Barclays raises its bet on the US Federal Reserve cutting interest rates this year, expecting three rate cuts before the end of the year.

Given the weaker-than-expected August employment data, Barclays economists have adjusted their forecasts for Federal Reserve policy, now expecting the Fed to cut interest rates by 25 basis points at the remaining meetings in September, October, and December of this year. Previously, they had expected the Fed to only cut rates in September and December.