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Lower inflation lessens rate hike chances
Market expectations regarding a Federal Reserve interest rate hike in September have decreased following data showing moderate inflation and a somewhat slowdown in economic activity. The probability of a rate increase dropped from over 70% to around 31.8%, as markets shift toward awaiting later periods. The data indicated that the Consumer Price Index rose by 0.1% month-over-month and 3.4% year-over-year, while producer prices remained stable and retail sales declined, providing the Fed with room to postpone monetary tightening despite inflation remaining above the 2% target. The decline in Treasury bond yields and the influence of weak data on the markets led to a rise in stock prices. The Federal Reserve is now likely to monitor and analyze upcoming data before making a final decision on interest rate hikes.
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