Lower than expected US inflation figures are raising hopes interest rates may not need to be raised as aggressively in the future - but it is by no means clear whether inflation has peaked on this side of the Atlantic.
and the central bank has raised its main policy, Fed Funds, by 0.75% in each of its last four policy meetings.
"Not only is headline CPI back below its pre-Russia-Ukraine conflict level, but some details of the report suggest the long-awaited decline in inflation could now be underway. Those are points worth bearing in mind. At 7.7%, the headline rate of inflation remains significantly higher than anything most American households or businesses have experienced during the last four decades. The Fed is still going to have to carry on raising the cost of borrowing and not least because, as was shown by other figures published today, the US jobs market still remains immensely strong.
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