May 5, 2017 / 4:52 PM / 3 months ago

Goldman raises chances on U.S. rate hike in June to 90 percent

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NEW YORK (Reuters) - Goldman Sachs economists said on Friday they raised the probability that the U.S. Federal Reserve would raise interest rates at its June 13-14 meeting to 90 percent from 70 percent following a solid payrolls report for April.

"The composition of the report was solid with a further drop in the unemployment rate to 4.4 percent, matching the lows achieved in the last cycle and three tenths below Fed officials’ estimate of its structural rate (4.7 percent)," the Goldman economists wrote in a research note published on Friday after the jobs data.

Reporting by Richard Leong

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