(Reuters) – Major investment banks are planning strong interest rate increases for 2022, as hotter than expected inflation data increased pressure on the Federal Reserve not to take a stronger stand against soaring costs.

The data on Thursday revealed that U.S. consumer price inflation rose at its fastest pace since early 1980s. Market speculation is fueled by a 50-basis point hike expected from the Fed’s March 15-16 meetings.

Current Fed Fund Effective Target is 0-0.25%

Here are estimates by major international investment banks about how fast and far rates will go up as the Fed prepares to increase pandemic-era rates.

* Citi now expects 150 bps of tightening this year, starting with a 50 bps move in March, followed by four, quarter-point increases in May, June, September and December.

* Credit Suisse (SIX: The Fed now anticipates a cumulative 175bps rise this year. It will start with a 50bps increase at March’s meeting.

* Societe Generale (OTC:) now expects five rate hikes of 25 bps this year, starting in March.

* Morgan Stanley (NYSE:) The Fed will tighten policy by 125bps this year. It intends to do so in four rate increases of 25bps and a Fed funds equivalent runoff. Data are critical in determining the timing of rate hikes.

* Goldman Sachs (NYSE:) said it is raising its forecast to include seven consecutive 25 bps rate hikes at each of the remaining Federal Open Market Committee (FOMC) meetings in 2022 from a previous expectation of five hikes.

* BofA Global Research expects the Fed to hike rates by 25 bps at each of this year’s remaining seven meetings, unchanged from its previous outlook. It did however warn that there could be a 50-bps rate hike at the Fed’s March policy conference.

* HSBC’s said it expects the Fed to roll out a 50 bps hike in March and four more quarter-point rate rises in 2022.

* Deutsche Bank (DE: It said that it expected the Fed to announce a 50-bps increase in March and five additional 25-bps increases in 2022. There will be no hike except at the November meeting.

* J.P.Morgan said on Jan. 28 it expects five rate hikes in 2022, up from the four it estimated previously.

* Barclays (LON) The Fed is now expected to increase rates five times this year by increasing them 25 bps, up from the three increases forecasted earlier.