UBS Global Wealth Management has pushed back its Fed rate‑cut forecast to March and June 2027 and no longer expects cuts this year. UBS now sees two 25bp cuts in Mar and Jun 2027, versus prior calls for 25bp cuts in Dec 2026 and Mar 2027. In a June 15 note UBS said this change reflects its view that the upcoming Fed meeting — the first under new chair Wash — will convey a more hawkish tone and that markets broadly expect rates to be left unchanged. UBS added major central banks are unlikely to p

UBS Global Wealth Management has pushed back its Fed rate‑cut forecast to March and June 2027 and no longer expects cuts this year. UBS now sees two 25bp cuts in Mar and Jun 2027, versus prior calls for 25bp cuts in Dec 2026 and Mar 2027. In a June 15 note UBS said this change reflects its view that the upcoming Fed meeting — the first under new chair Wash — will convey a more hawkish tone and that markets broadly expect rates to be left unchanged. UBS added major central banks are unlikely to pivot dovish even if a US‑Iran deal is reached, and will likely remain cautious as energy shocks and coming data could trigger second‑round inflation pressures.