CICC: The Federal Reserve's initial rate cut of 50bp is the fourth in history, partially exceeding market expectations
BlockBeats reports that on September 19, in response to the Federal Reserve's 50bp rate cut, CICC commented that a 50bp rate cut is an unconventional start and partially exceeds market expectations. This 50bp rate cut aligns with the expectations of CME interest rate futures but surpasses many Wall Street investment bank forecasts, marking it as an "unconventional" start.
Historically, a starting point of a 50bp rate cut only occurs during economic or market emergencies such as the tech bubble in January 2001, financial crisis in September 2007, and pandemic in March 2020.
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