BofA adds January 2027 Fed rate hike to forecast after strong October CPI

Cointime reports: Bank of America Global Research said on Friday it now expects the Federal Reserve to raise rates by another 25 basis points in January 2027, on top of previously forecast hikes in December and March. The revision follows stronger-than-expected October CPI data, which lifted market expectations for higher borrowing costs. Strategists said the Fed appears further behind the curve on inflation and no longer has room to hike on a quarterly pace.