BNP: Federal Reserve rate cut may be delayed until mid-2026

February 17 news, according to Jin Ten reports, BNP Paribas Markets 360 analysts expect that the Federal Reserve may not cut interest rates until mid-2026. They have held this view since the beginning of December last year. Their forecast is based in part on expectations of tariffs, but recent news suggests that they may have to raise their preliminary estimate of tariffs. This makes analysts more confident in their inflation expectations, which are already higher than the market consensus. Money markets currently expect the Federal Reserve to resume rate cuts in September.