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Ing Group: U.S. GDP growth exceeded expectations, but failed to weaken market confidence in interest rate cuts.
The US economy grew at an annualized rate of 2.8%, higher than expected, in the second quarter, and core inflation is also hotter than expected. The economy will face more challenges in the second half of this year, and the Fed's attitude towards future inflation seems to be more accommodative. We expect the market to pay more attention to economic activity in anticipation of the rate cut starting in September.
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