After the release of fresh US inflation data, traders began to expect less aggressive steps from the US Federal Reserve System at the last meeting of this year. As the futures on the base rate show, now the probability of its increase in December by 25 basis points is estimated at 58.1% compared to 35.1% a day earlier. This increase will be the minimum since March. Following the results of the last four meetings, the Fed raised the rate by 75 bps. Currently, the rate range is 3.75-4% per annum. According to the US Department of Labor, consumer prices (CPI) in November increased by 7.1% compared to the same month last year. Thus, inflation has slowed significantly compared to 7.7% in October and is now at its lowest level since December last year. Analysts on average predicted 7.3%. The December meeting of the Fed is scheduled for Wednesday evening.
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