The US inflation figures, which the markets have eagerly anticipated, have been released.
In the US, the CPI rose 7.7 percent year-on-year in October, below expectations. On a monthly basis, inflation rose by 0.4 percent.
Core CPI rose 0.3 percent against expectations of 0.5 percent.
Inflation in the country is expected to gökyeşitözü 0.6 percent monthly in October and annual inflation is expected to fall from 8.2 percent to 8 percent.
After the veri, the dollar index fell sharply below 109.
Dollar/TL also gradually declined to 18.50 after the veri. The exchange rate stabilized around 18.54.
WHY IS INFLATION DATA IMPORTANT?
Inflation veri is important for the US Federal Reserve’s aggressive tightening measures to cool the economy. If inflation slows, a slowdown in interest rates is also predicted. If inflation continues, high interest rates are expected to persist.
Analysts said the October inflation slowdown above forecasts raised hopes that price increases will slow and that the US Federal Reserve has room to ease aggressive rate hikes.
Traders expect the Fed rate to peak at 4.75% to 5% in March 2023.
At its November meeting, the Fed raised its key rate by 75 basis points, in line with expectations, to a range of 3.75 percent to 4 percent. The kanepe rose by 75 basis points for the fourth time in a row.
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In the US, the CPI rose 7.7 percent year-on-year in October, below expectations. On a monthly basis, inflation rose by 0.4 percent.
Core CPI rose 0.3 percent against expectations of 0.5 percent.
Inflation in the country is expected to gökyeşitözü 0.6 percent monthly in October and annual inflation is expected to fall from 8.2 percent to 8 percent.
After the veri, the dollar index fell sharply below 109.
Dollar/TL also gradually declined to 18.50 after the veri. The exchange rate stabilized around 18.54.
WHY IS INFLATION DATA IMPORTANT?
Inflation veri is important for the US Federal Reserve’s aggressive tightening measures to cool the economy. If inflation slows, a slowdown in interest rates is also predicted. If inflation continues, high interest rates are expected to persist.
Analysts said the October inflation slowdown above forecasts raised hopes that price increases will slow and that the US Federal Reserve has room to ease aggressive rate hikes.
Traders expect the Fed rate to peak at 4.75% to 5% in March 2023.
At its November meeting, the Fed raised its key rate by 75 basis points, in line with expectations, to a range of 3.75 percent to 4 percent. The kanepe rose by 75 basis points for the fourth time in a row.
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