Deutsche Bank sees 3 straight Fed hikes following hot CPI, adding a January move

In today's Fed interest rates news, Deutsche Bank now projects the Federal Reserve to raise policy rates at each of its next three meetings, following adding a January increase to its forecast following a hotter than expected US inflation report, according to investingLive Central Banks. Deutsche Bank had before that expected hikes in December and March, with a pause in January.

Key points

• Before the data, Fed Governor Christopher Waller stated a 50 basis point hike should be considered in December if price pressures accelerated.
• Three consecutive hikes would keep pressure on Treasury yields, which advanced close to 5% following the CPI release.
• It would not rule out a half-point increase, but stated a 50 basis point move is not its base case.

Fed interest rates: the details

Before the data, Fed Governor Christopher Waller stated a 50 basis point hike should be considered in December if price pressures accelerated, and Deutsche Bank stated his comments opened that possibility. It would not rule out a half-point increase, but stated a 50 basis point move is not its base case. Three consecutive hikes would keep pressure on Treasury yields, which advanced close to 5% following the CPI release, and would support the US currency.

Why traders are watching Fed interest rates

Expectations for US interest rates sit behind almost every move in the dollar, bond yields and equities. When the outlook for Fed policy changes, traders reprice the whole curve of rate expectations at once.

A more hawkish tone usually supports the dollar and weighs on gold and growth stocks, while a dovish tilt tends to do the opposite. That is why traders read every comment from policymakers closely.

Market reaction and data

Crypto prices at the time of writing, from Binance spot data (2026-11-12 03:08 UTC):

On the currency side, the latest ECB daily reference rates (2026-11-11) show EUR/USD 1.1127, GBP/USD 1.3307, AUD/USD 0.6859, NZD/USD 0.5583, USD/JPY 159.23, USD/CHF 0.8299, USD/CAD 1.4235, USD/CNY 6.6707. These are reference fixes, not live quotes.

What to watch next for Fed interest rates

Traders will focus on upcoming comments from Fed officials, the next inflation and labour-market releases, and pricing in rate futures for clues about the timing of the next policy move.

Key scheduled releases on the economic calendar:

• GBP GDP m/m on Thu Nov 12, 07:00 UTC, forecast 0.0%, previous 0.1%
• USD Core PPI m/m on Fri Nov 13, 13:30 UTC, forecast 0.3%, previous 0.7%
• USD PPI m/m on Fri Nov 13, 13:30 UTC, forecast 0.4%, previous 1.3%

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FAQ

What is the latest Fed interest rates news?

Deutsche Bank now projects the Federal Reserve to raise policy rates at each of its next three meetings, following adding a January increase to its forecast following a hotter than expected US inflation report.

How do Fed rate decisions affect forex markets?

Higher US rates tend to attract capital into dollar assets and strengthen the greenback, while lower rates or dovish guidance usually weaken it against other major currencies.

Where does this information come from?

This report is based on coverage from investingLive Central Banks, checked against market data where available. It is a summary for information only and not investment advice.