Nomura Securities expects the Federal Reserve to cut interest rates by 25 basis points in December.

According to ChainCatcher, citing Jinse Finance, Nomura Securities has shifted its stance and now expects the Federal Reserve to cut interest rates by 25 basis points at the December policy meeting, reversing its previous expectation of holding rates steady. Nevertheless, Nomura points out that there is still considerable uncertainty regarding the policy decision in December. The firm believes that there are already enough dovish signals to support further "risk management-style rate cuts."

It is expected that four hawkish members will oppose the rate cut, while Milan supports a 50 basis point cut. Nomura also anticipates that under the leadership of a new Federal Reserve Chair in 2026, the Fed will cut rates by 25 basis points each in June and September.