companies last week are early indications of an impact from an anticipated easing cycle in interest rates, according to analysts at Bank of America.
The Federal Reserve slashed rates by an outsized 50-basis points last month, and markets are now pricing in further borrowing costs reductions at the central bank's final two meetings in 2024. However, the prospect of slipping rates is seen tempering net interest income , or the difference between what a bank makes from loans and pays for deposits. NII is anticipated to slump in the first half of next year, the BofA analysts said.
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