Will US Interest Rate Hike happen in December 2017?

November 20, 2017

The markets were seen trading relatively subdued last week with lack of any big macroeconomic drivers.

Will US Interest Rate Hike happen in December 2017?

This article is originally referred from Orbex Market Recap

Among the central bank meetings, the RBA and the RBNZ both kept the benchmark interest rates unchanged.

The European Commission released its quarterly economic forecasts.

The EU commission predicts a stronger GDP growth in 2017 and 2018 as economic activity is forecast to rise at the fastest pace in a decade. The euro was seen posting some recovery although the sideways range continues to exist for the most part.

U.S. consumer prices rise in October

The latest consumer price index data from the U.S. inched higher as the data paved way for the Fed to proceed with rate hikes in December.

According to official data released by the Labor Department, headline CPI in the U.S. was seen rising 0.1% on the month in October.

This follows a robust 0.5% increase the month before. On an annual basis, inflation was seen at 2.0%, down from September’s 2.2%.

Excluding the volatile food and energy prices, the core infation rate rose 0.2% during the month. This followed a 0.1% increase in the previous month. On an annualized basis, core CPI rose 1.8% on the year which was the highest since April this year.

Original Source: Orbex Market Recap

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