BofA adds January Fed hike to forecast, says quarterly pace no longer enough

BofA Global Research anticipates that the Federal Reserve will implement a rate hike in January 2027. This adjustment follows the unexpectedly high Consumer Price Index report for October. Expectations of a 25-basis-point increase are supported by increasing inflation driven by various factors. Other banks like Goldman Sachs and Deutsche Bank have also revised their forecasts in light of recent data.