February FOMC forecast of +25bp, then no change in March, citing slowing activity

Standard Chartered Federal Open Market Committee (FOMC) forecast for the first two meetings on 2023:

• We keep our forecast of 25bps in February
• followed by a pause (in March)
• This puts us 50bps below the FOMC median and about 25bps below the market
• We expect slowing activity to provide sufficient motivation to pause at the March FOMC meeting