BMO analyst: The cooling of inflation exceeded expectations

According to ChainCatcher, analysts at the Bank of Montreal pointed out that the annual benchmark revision by the US Bureau of Economic Analysis shows that the Federal Reserve’s preferred inflation indicator was revised down more than expected. In August, the core PCE increase was lower than anticipated, with the year-on-year growth slowing to 3%, below the market expectation of 3.3%. Analysts believe this alleviates the urgency for another rate hike in October.