Inflation figures this week will provide the final piece of major economic data for Federal Reserve policymakers to chew over ahead of their interest rate decision this month.
Investors expect the Fed to resume its cycle of rate cuts, but weak US jobs data on Friday has opened the door to the possibility of an extra-large half point reduction in borrowing costs at the central bank’s September meeting.
Economists polled by Reuters expect a 2.9 per cent annual rise in consumer prices when the inflation figures for August are published on Thursday, up from 2.7 per cent in July. But a lower-than-expected figure could see the clamour for a jumbo rate cut grow.
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