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US inflation higher than expected – BTC falls

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US inflation higher than expected – BTC falls

In January, inflation in the US fell to 3.1 percent, which was below the expectations of experts who had expected it to fall to 2.9 percent, according to the Bloomberg news agency. In December, consumer prices rose 3.4 percent, higher than most analysts expected. Core inflation, which excludes food and energy prices, was recently at 3.9 percent, on a par with the December value. The development of inflation is a decisive factor for the interest rate policy of the US Federal Reserve Bank. Fed Chairman Jerome Powell had already dampened hopes of a rate cut in March, describing them as “unlikely”. May is currently seen as the likely time for a rate hike. Expectations regarding the extent of interest rate cuts have also diminished. Money markets have priced in fewer than five interest rate cuts by the end of the year, compared to more than six in the meantime.

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