Live On CNBC, Citigroup CEO Jane Fraser Says Rates Could Rise Again In November, Hopes Another Hike Is Not Needed
Portfolio Pulse from Benzinga Newsdesk
Citigroup CEO Jane Fraser, in a live interview on CNBC, suggested that rates could rise again in November. However, she expressed hope that another hike would not be necessary.
September 29, 2023 | 2:31 pm
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NEUTRAL IMPACT
Citigroup's CEO hinted at a possible rate hike in November, which could impact the bank's profitability.
Rate hikes can impact a bank's profitability. If rates rise, it could increase the cost of borrowing for Citigroup, potentially impacting their bottom line. However, it's also possible that higher rates could lead to increased revenue from interest on loans.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
The potential rate hike hinted by Citigroup's CEO could impact the broader market, represented by SPY.
Rate hikes can impact the broader market as they can increase the cost of borrowing for companies, potentially impacting their profitability and thus stock prices. As SPY is a representation of the broader market, it could be impacted by this potential rate hike.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50