Oct 14 (Reuters) - J.P.Morgan and BofA Global Research have joined a growing rank of major brokerages that expect the U.S. Federal Reserve to reduce interest rates by 25 basis points in November after blowout nonfarm payrolls data earlier this month pointed to a resilient economy.
Citigroup also expects a 25 bps cut in the November meeting of the Federal Open Market Committee, but forecasts weakening labor market data leading to a 50 bps cut in December.
Goldman Sachs, Barclays, Macquarie and Deutsche Bank reiterated their forecasts of a 25 bps cut each in November and December.
Here are the forecasts from major brokerages after the jobs report:
* UBS Global Research and UBS Global Wealth Management are distinct, independent divisions in UBS Group
Compiled by the Broker Research team in Bengaluru; Editing by Varun H K, Shilpi Majumdar and Devika Syamnath
