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Fed Increases Rates As Expected: Rates Still Lagging, but Starting to Respond

Today the Federal Reserve raised its benchmark Fed Funds rate by a quarter point, and signaled that the likely path for short-term rates continues to be two more one-quarter point increases in 2017. While Retail and Commercial deposit pricing trends have not shifted dramatically since the last Fed Funds increase in December 2016, Novantas continues to see market shifts that signal increased competition: Retail Direct Bank Competition: Strategies Shift toward CDs Non-Operational Commercial Pricing: Premium exception pricing sometimes exceeding 100% beta Regional Differences: Beta differences emerging more starkly Given these pressures, banks must revisit key elements of their pricing strategy, ...

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