StanChart revises Fed cut expectations to 50 bps in September after weak US jobs data

Standard Chartered expects the U.S. Federal Reserve to cut interest rates by 50 basis points at its September 17 meeting, after August jobs growth came in far below expectations and unemployment rose to 4.3%, it said in a note on Friday.

The brokerage had earlier forecast a smaller cut of 25 bp but said the latest numbers showed the labor market was softening fast, opening the door for a bigger move.