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House View Daily | Hotter US inflation keeps the Fed on course to hike
US core inflation rose 0.3% in October, with short-term momentum accelerating and price pressures evident across tariff- and AI-sensitive goods. The report was disappointing for a second consecutive month, although we think support for a 50-basis-point rate hike appears limited. We think the data reinforce the case for at least two further hikes and increase the risk that the Fed could shift from gradual quarterly adjustments to consecutive 25-basis-point moves.
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