analysts at Royal Bank of Canada Capital Markets said that the Fed's January meeting is unlikely to change market narratives. Analysts said in a report that the market has already fully digested the expectation of a pause in rate hikes during the interval between interest rate decisions, and Fed spokespersons have not attempted to counterattack. However, they said that even if the Fed pauses its rate cuts, it is almost certain to maintain its tendency to lower rates. This is basically consistent with current market prices, but Royal Bank of Canada predicts that there will be no further rate cuts this year. They said that without the latest forecasts, any potential market reactions may depend on Fed Chairman Powell's press conference.