UPDATE: BofA CFO Alastair Borthwick Earlier Said "When We Are Looking At The Rate Path, We Tend For Planning Purposes To Use The Forwards... The Research View At Bank Of America, Where People Are Telling Us That The End Place Will End Up Somewhere 2.75% Or 3%, I Think Is The Latest Thinking, Which Would Restore It Would Be Sort Of A More Normal Rate Structure In The U.S."
Portfolio Pulse from Benzinga Newsdesk
Bank of America's CFO, Alastair Borthwick, discussed the company's approach to interest rate planning, indicating that they use forward rates for planning. The current research view at Bank of America suggests that interest rates may stabilize between 2.75% and 3%, which would represent a return to a more normal rate structure in the U.S.
September 25, 2024 | 2:53 pm
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Bank of America's CFO, Alastair Borthwick, indicated that the bank uses forward rates for planning, with expectations of interest rates stabilizing between 2.75% and 3%. This could signal a return to normalcy in the U.S. rate structure, potentially impacting BAC's financial strategies and stock price.
The statement from BofA's CFO suggests a strategic outlook on interest rates, which is crucial for the bank's financial planning and could positively influence investor sentiment. A return to normal rate structures may benefit BAC's lending and investment activities, potentially boosting its stock price.
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IMPORTANCE 80
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