INVESTORS MORE CONVINCED ABOUT FED RATE CUTS THIS YEAR: BOFA SURVEY Investors step up expectations of interest-rate cuts by the U.S. Federal Reserve this year, Bank of America's March global fund manager survey shows. More than two thirds of respondents, or 68%, expect two or three rate cuts this year, up from 51% in February, the survey says. These expectations are broadly in line with money-market pricing of Fed rate reductions this year, according to LSEG data.