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Expectations of Federal Interest Rate Hike Delay in July Amid Slowing Inflation
Expectations of delaying the Federal Reserve's interest rate hike in July due to slowing inflation, as an American report showed that the Consumer Price Index rose by 3.5% in the year until June, after an increase of 4.2% in May, while the core index remained steady at 2.6%. This coincided with a rise in oil prices following renewed hostilities around the Strait of Hormuz, raising concerns about ongoing inflation. Meanwhile, the Federal Reserve is considering postponing the rate hike until September, with low prospects for further increases in July.
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