UBS "tears up its report": The Fed will raise rates three times in this tightening cycle, with the next move in December.

UBS, in its latest report to clients, adjusted its expectations for the Federal Reserve's interest rate path, forecasting that the central bank will raise rates three times in this tightening cycle, with the third hike occurring in March 2027. This follows the release of U.S. September inflation data that came in above market expectations.