New inflation data released today showed consumer prices in the US rose as predicted for November.
Experts believe the data supports the Federal Reserve in lowering interest rates again in December. The reported date of the cut will be December 18.
Matching economist predictions, the Bureau of Labor Statistics reported a 2.7% increase in the Consumer Price Index over the prior year. Above October’s 2.6% annual gain.
“With the jobs report showing more slack despite solid income and job gains, we reiterate our call for another 25bp Fed cut in December,” Jonathan Millar, senior U.S. economist at Barclays, stated.
Meanwhile, Canada is today bracing itself for an expected rate cut, with experts warning the Canadian dollar could fall further if the central bank delivers the large cut that markets expect.
Today, the Bank of Canada is widely expected to lower its benchmark interest rate, currently sitting at 3.75 percent.
By CEO NA Editorial Staff
