The Federal Reserve cut interest rates by 0.25% on December 18, but an interest rate cut is unlikely when the Fed issues its next policy decision on January 29.

Brazil economists raised their forecasts for inflation and borrowing costs in 2025 after central bankers reinforced their commitment to extend jumbo interest rate hikes into early next year.

The Federal Reserve’s preferred inflation gauge moved slightly higher in November — but not as much as economists were expecting, an indication that price hikes aren’t accelerating in a worrisome fashion.