Lloyds Bank: Next week's meeting minutes are not expected to change the market expectation that the Fed will not cut interest rates in July

Lloyds Bank believes that the minutes of the June meeting of the Federal Reserve to be released next Wednesday are expected to not change the market's expectation of keeping interest rates unchanged at the July meeting, with a rate adjustment more likely in September. The Fed's dot plot still expects two rate cuts this year, but there is a clear division among policymakers, ranging from three rate cuts to no change.