Major brokerages see one more Fed rate hike in 2026 after policy meeting
SPY•Brokerage forecasts for 2026
| Brokerage | Total hikes in 2026 | No. of hikes in 2026 | Fed funds rate |
|---|---|---|---|
| BofA Global Research | 50 bps of hikes | 2 (October and December) | 4.25%-4.50% |
| Goldman Sachs | 25 bp rate hike | 1 (October) | 4.00%-4.25% |
| J.P. Morgan | 25 bp rate hike | 1 (December) | 4.00%-4.25% |
| Nomura | 25 bp rate hike | 1 (December) | 4.00%-4.25% |
| HSBC | 25 bp rate hike | 1 (December) | 4.00%-4.25% |
| Barclays | 25 bp rate hike | 1 (December) | 4.00%-4.25% |
| Deutsche Bank | 25 bp rate hike | 1 (December) | 4.00%-4.25% |
| UBS Global Wealth Management | 25 bp rate hike | 1 (December) | 4.00%-4.25% |
| UBS Global Research | 25 bp rate hike | 1 (December) | 4.00%-4.25% |
| Morgan Stanley | 25 bp rate hike | 1 (December) | 4.00%-4.25% |
| Macquarie | 25 bp rate hike | 1 (December) | 4.00%-4.25% |
| BNP Paribas | 25 bp rate hike | 1 (December) | 4.00%-4.25% |
| Standard Chartered | 25 bp rate hike | 1 (December) | 4.00%-4.25% |
| Citigroup | No policy change | _ | 3.75%-4.00% |
Compilation and editing note
(Compiled by the Broker Research team in Bengaluru; Editing by Shinjini Ganguli, Eileen Soreng, Joyjeet Das, Harikrishnan Nair, Pooja Desai and Devika Syamnath)
