[Bank of America: A July Fed Rate Hike Would Be Unprecedented] Jin10 News, July 28 – Although the market expects a low probability of a Federal Reserve rate hike in July, Bank of America still anticipates that the Fed will keep rates unchanged. The bank stated that if the Fed were to raise rates in July, it would be unprecedented: since 1994, the Fed has never raised rates when the market's probability of a hike was below 60%. Bank of America believes that higher oil prices are the primary inflation risk and maintains a bullish outlook on the U.S. dollar.