BofA Global Research became the latest brokerage to forecast an interest rate cut by the U.S. Federal Reserve in December, as dovish signals from key voting members and weakness in labor market conditions ramped up hopes of lower borrowing costs.

The Wall Street brokerage joined global peers like J.P.Morgan and Goldman Sachs who expect a quarter-point reduction when the Federal Open Market Committee meet for their last policy meeting of the year on December 9 and 10.

Traders are pricing in an 87.2% chance of a 25-basis-point interest rate cut in December, according to CME Group's FedWatch Tool.

Morgan Stanley and Standard Chartered are among the few expecting the central bank to remain on hold next week.

Here are the forecasts from major brokerages for December policy meeting: