[Bank of America Includes January 2027 Fed Rate Hike in Forecast] Golden Finance reports that on November 14th, Bank of America Global Research stated on Friday that, given the stronger-than-expected October CPI data, which boosted market expectations of rising borrowing costs, the bank now expects the Federal Reserve to raise interest rates by another 25 basis points in January 2027, in addition to its previously projected December and March rate hikes. "Following the release of the October CPI data, the Fed appears to be further behind the curve on inflation. The bank no longer has the room to raise rates at a quarterly pace," Bank of America strategists stated in a report.