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U.S. interest hike expectations decline
The expectations of a US interest rate hike have diminished following the release of inflation data, which showed a slower-than-expected acceleration. The probability of a rate increase in October’s meeting decreased from 50% to 36%. The data positively impacted the bond market, as short-term bond prices rose and yields fell, with the two-year bond yield dropping to 4.83%. The core inflation index showed a monthly increase of 0.3%, while the underlying index excluding food and energy rose by 0.2%, providing markets with an opportunity for stability and easing monetary policy pressures.
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