Fed's rate decision relies on inflation data

The likelihood of the U.S. Federal Reserve raising interest rates has increased following the release of strong non-farm payroll data in August, which showed job growth of 162,000 and kept the unemployment rate steady at 4.1%. Despite the continued strength of the labor market, the data did not lead to increased inflationary pressures, making the decision to raise rates dependent on upcoming inflation figures scheduled for next week. Market expectations now suggest a more than 60% chance of a rate hike. Meanwhile, U.S. President Donald Trump criticized the central bank, calling for lower interest rates amid divisions among Federal Reserve members regarding the decision.

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