Deutsche: Three more rate cuts by year end

Via Deutsche comes a dove taking flight in the shape of Phil Odonahoe with rate cuts forecast for Sept, Oct and Nov:

“The recent escalation of trade tensions have materially increased the probabilities of a global recession.”

“We think delivering 75bps of easing pre-emptively circumvents the risk of having to deliver 100bps of easing and suffer the negative externalities associated with a defunct overnight cash rate.”

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