Sumitomo Mitsui Bank: Considering past revisions, the Fed may cut interest rates by 50 basis points

Hirofumi Suzuki, chief foreign exchange strategist at Sumitomo Mitsui Bank in Tokyo, said the slightly weaker-than-expected U.S. jobs report would not prompt the Fed to cut interest rates by 50 basis points at its September meeting. However, combined with past revisions, the result means the Fed is likely to cut interest rates by 50 basis points, depending on indicators after next month. (Jinshi)