The probability of the Fed raising rates by 25 basis points next week has surged to 85%

Odaily News: After the latest CPI inflation data was released, the market further increased its bets on Friday that the Federal Reserve will raise interest rates at next week's meeting. Data released by the U.S. Bureau of Labor Statistics showed that U.S. core CPI rose 0.3% month-over-month in August, higher than economists' expectation of 0.2%. Currently, market pricing indicates that the probability of the Fed raising rates by 25 basis points at its September 15-16 meeting is about 85%, compared with about 70% before the inflation data was released.