Agencies: U.S. core inflation rose monthly, ruling out the possibility of a major interest rate cut by the Federal Reserve
2024-09-11 12:44:19
According to Informa Global Markets, the overall CPI in the United States slowed to 2.5% year-on-year in August, in line with expectations and the lowest level since February 2021. Core inflation held at an annualized rate of 3.2%, which was also in line with expectations. The market noted that higher than expected was core inflation at a monthly rate of 0.3%, which prompted the dollar to rise against the yen from 141.80 to 142.35. The data supports the Federal Reserve to cut interest rates by 25 basis points next week and should rule out the possibility of a larger 50 basis point cut.
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