Agency: U.S. CPI data unlikely to change Federal Reserve's near-term policy

Michael Brown, senior research strategist at Pepperstone, said in a note that the U.S. CPI data for November to be released tonight is unlikely to materially change the near-term outlook for Federal Reserve policy. A 25 basis point rate cut next week appears to be a certainty, with labor market rather than price pressures being the main determinant of the current policy shift. Economists surveyed by the Wall Street Journal expect overall CPI growth to accelerate to 2.7% year-on-year in November from 2.6% in October, while core CPI growth is expected to remain unchanged at 3.3% year-on-year.