ChainCatcher news, Morgan Stanley expects the Bank of England to support keeping interest rates unchanged with a 6:3 voting ratio. However, the policy wording may see a dovish adjustment, hinting at possible action in November."Considering all the data since August and the scale of the current restrictions, we believe that the market pricing for a rate cut in September should be slightly higher. Nevertheless, we also think the likelihood of a rate cut will not exceed 30%." Morgan Stanley expects the scale of the Bank of England's QT next year to be £100 billion, up from a previous estimate of £90 billion, but still believes the risks are tilted to the downside. "November is a key meeting for the Bank of England this year, and we expect it to lay the groundwork for a faster pace of rate cuts, as the anti-inflation momentum in service prices is strengthening. We expect rate cuts in November and December, with the bank rate reaching 3.25% by August next year."

ChainCatcher news, investors are betting that the Federal Reserve will make a significant rate cut this week, but they are likely to be disappointed as the performance of the U.S. economy does not warrant aggressive rate cuts.According to CME's FedWatch Tool, current U.S. interest rate futures prices show a 65% chance of a 50 basis point cut and a potential total cut of 116 basis points this year. However, a series of economic data released on Tuesday prompted the Atlanta Fed to raise its forecast for U.S. GDP growth in the third quarter from 2.6% to 3.0%, indicating that the economy is not as bad as it seems. After weighing all factors, the Fed may cut rates by 25 basis points, and Powell may reiterate a data-dependent approach. The Fed's dot plot is unlikely to confirm the current aggressive pricing for rapid rate cuts, but rather show a more measured pace of rate reductions. This could be interpreted as a "hawkish cut," forcing investors who hastily bet on significant rate cuts to cover their positions. (Jin Shi)

ChainCatcher news, according to Jinshi reports, EY-Parthenon economists Gregory Daco and Lydia Boussour stated, "Powell seems to be more dovish than his peers.Nevertheless, unless there is a substantial deterioration in the labor market in the coming weeks, we still expect that most decision-makers will favor a 25 basis point rate cut in September."

ChainCatcher news, Singaporean crypto investment firm QCP Capital stated that the downward revision of the U.S. non-farm payrolls overnight highlighted the weakness in the labor market, raising concerns that the Federal Reserve might delay interest rate cuts, triggering a wave of selling.However, the minutes from the July Federal Open Market Committee (FOMC) meeting showed that some policymakers were willing to cut rates, which released a more dovish stance aimed at balancing inflation and employment goals, thereby alleviating these concerns. This dovish tone boosted risk assets, pushing Bitcoin prices above $61,800, with strong buying on Coinbase continuing until 4 AM Singapore time. Aggressive buy orders on Coinbase (indicating domestic demand in the U.S.) are a good signal for the short-term trend.Now, the market's focus shifts to Federal Reserve Chairman Powell's speech tomorrow in Jackson Hole, with expectations of gaining more signals regarding interest rate cuts. Given that the market is generally betting on rate cuts, unexpected economic data could have a significant impact on the market.

ChainCatcher message, analyst Enda Curran comments on Powell's speech: Powell's words sound quite dovish, but it now seems that everything depends on the data from the coming weeks and months.