The Federal Reserve cut interest rates by 0.25% on December 18, but an interest rate cut is unlikely when the Fed issues its next policy decision on January 29.

Brazil economists raised their forecasts for inflation and borrowing costs in 2025 after central bankers reinforced their commitment to extend jumbo interest rate hikes into early next year.

The Federal Reserve’s preferred inflation gauge moved slightly higher in November — but not as much as economists were expecting, an indication that price hikes aren’t accelerating in a worrisome fashion.

The Personal Consumption Expenditures index climbed 2.4 percent from a year earlier, though the report’s details were more subdued than expected.

Mexico’s annual inflation slowed slightly less than expected in early December as the central bank extends its interest rate cuts.

Prices barely moved in November but still held higher than the Federal Reserve’s target when looked at from a year ago, according to a Commerce Department measure released Friday.

The Fed's preferred inflation measure for November, the PCE index, came in below Wall Street estimates. However, it remains above where policymakers want it to be suggesting prices are still stubbornly high.

The Personal Consumption Expenditures index climbed by 0.1% in November on a month-over-month basis, the Bureau of Economic Analysis said in a statement Friday.

The core personal consumption expenditures price index, the Federal Reserve’s preferred inflation measure, showed a 0.1% increase in November. Year-over-year, it rose by 2.8%. The report indicated some progress in controlling inflation after recent stagnation,