Analysts at Japan’s investment banking giant, Nomura, change their rate hike call for the Fed, as they now see the world’s most powerful central bank raising rates by 50-basis points (bps) in March.

Key quotes

"He (Fed Chair Powel) repeatedly appeared to differentiate the upcoming hiking cycle from the last time the Fed normalized its policy rate at a roughly quarterly pace.”

"We now expect a 50 bp rate hike at the March (Fed) meeting, followed by three consecutive 25 bp hikes in May, June and July.”

“Another 25 bp hike was expected in December.”

• Federal Reserve rate cycle to begin in March, markets reverse on warning