UBS revises timing of U.S. Fed rate hikes to June, Sept

FILE PHOTO: The U.S. Federal Reserve in Washington

NEW YORK (Reuters) – UBS’s U.S. economists on Wednesday now expect the U.S. Federal Reserve to increase interest rates at its June and September policy meetings, earlier than their prior forecast on such moves at their July and December meetings.

They revised their view on the timing of the rate hikes in 2107 on expectations the U.S. central bank would announce changes in the reinvestment of their Treasury and mortgage-backed securities portfolios in December, they wrote in a research note published on Wednesday.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)