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Fears of U.S. rate increase
Market expectations indicate a high likelihood that the U.S. Federal Reserve will raise interest rates during its September meeting, following inflation data that showed persistent price pressures. The odds of a rate hike have increased to approximately 86%, after the Consumer Price Index rose by 0.4% in August and annual inflation remained at 3.4%. Rising oil prices and inflation surpassing the Fed's 2% target are among the factors adding pressure to adopt a more hawkish stance. Expectations are for continued monetary tightening in upcoming meetings, potentially pushing interest rates to the 4.00%-4.25% range by the end of the year.
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