Barclays says oil prices have retreated sharply from peaks during the Iran
conflict, but its outlook inflation has worsened. In a client note the bank said
the odds of the Fed holding rates this year rather than hiking have narrowed
noticeably in recent months, though that remains its base case. Barclays cited
strong US economic momentum, saying the oil decline alone is unlikely to relieve
US inflationary pressures or materially change Fed policy expectations.
