BofA Global Research no longer expects Fed rate hike in Dec

BofA Global Research no longer expects the U.S. Federal Reserve to deliver another interest rate hike in December, following a softer-than-expected inflation reading for October.

The brokerage had previously forecasted a final 25 basis points hike.

"We now think that the hiking cycle is over," BofA economists led by Stephen Juneau said in a note dated Tuesday.