BoA Merrill Lynch sees Fed cutting interest rates by 75 bps by early 2020, starting in September

According to Reuters, Bank of America Merrill Lynch in a recently published analysis said that it now expects the Fed to start cutting interest rates in September and make a total cut of 75 basis points by early 2020.

Key takeaways (via Reuters)

• Sees PBOC cutting Chinese interest rates twice in 2019, once in 2020.
• Downgrades U.S. H2 2019 GDP growth view to 1.2% from previous estimate of 1.8%.
• Lowers annual GDP growth view on China in 2020 to 6.0% from previous estimate of 6.2%.
• Cuts annual GDP growth view on Mexico to 0.7% from 1.0% for 2019, to 1.2% from 1.5% in 2020.