Economists at Barclays PLC in the U.S. stated in a report that the bank maintains its expectation for the Federal Reserve to cut interest rates twice in 2026, with a 25-basis-point reduction in both March and June.

They believe the risks surrounding this baseline forecast are skewed towards a delay in the timing of the rate cuts.

These economists noted that the minutes from the Fed's December policy meeting, during which it cut rates by 25 basis points, are consistent with Barclays' expectation for no action at the January meeting, "as the FOMC needs time to assess the impact of the recent rate cut."