Agency: US CPI data is unlikely to change the Fed's recent policy
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The senior research strategist at Pepperstone, Michael Brown, said in a report that the US November CPI data to be released tonight is unlikely to substantially change the near-term outlook for the Fed's policy. A 25-basis-point rate cut next week seems to be certain, with the labor market rather than price pressures being the main driver of the policy shift.
Economists surveyed by The Wall Street Journal expect the overall CPI year-on-year growth to accelerate from 2.6% in October to 2.7% in November, while the core CPI year-on-year growth is expected to remain unchanged at 3.3%.
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