0519 GMT - Barclays is changing its baseline Federal Reserve call and now expects two more 25-basis-point interest-rate hikes, its strategists say in a note. Their change was prompted by the September CPI and PPI reports which led Barclays to revise up its inflation outlook. The strategists expect the Fed to hike in December and January, followed by a prolonged hold of the federal funds target range at 4.25-4.50%. Barclays previously expected the Fed to leave rates unchanged in October, deliver one final 25bp increase in December, and then maintain rates at that level through most of 2027, with a 25bp cut in December 2027.
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