According to Deltaone, following the higher-than-expected US CPI data for October, Deutsche Bank has added a January rate hike to its forecasts. It now expects 25-basis-point rate hikes in December, January, and March, bringing the target range to 4.50%–4.75%. The bank has also raised its estimate of the neutral rate to 3.75%–4.00%, noting that a 50-basis-point hike in December is possible, though still not its baseline scenario. These are institutional forecasts, and the three listed months are not consecutive.