Nov 16 (Reuters) - Goldman Sachs on Wednesday raised its forecast for the peak in the federal funds rate by 25 basis points to 5-5.25%, after adding one more quarter-point Federal Reserve hike in May 2023 to its outlook.

The bank said in a research note that it now sees the Fed hiking by 50 bp in December and 25 bp in February, March and May. (Compiled by the Global Finance & Markets Breaking News team)