According to Kim Ten, analysts at RBC Capital Markets said that the Federal Reserve's January meeting seems unlikely to change the market narrative. The market has fully digested the expectation of a pause in rate hikes for most of the time between interest rate negotiations, and the Fed spokesperson has not tried to fight back, the analysts said in a note. However, they said that even if the Fed pauses rate cuts, it will almost certainly maintain its rate-cutting inclination. This is largely in line with current market prices, although RBC forecasts that there will be no more price cuts this year. In the absence of an updated forecast, any potential market reaction could hinge on a press conference from Federal Reserve Chairperson Jerome Powell, they said.