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Wall St up amid rate cut hopes after inflation data

Pelican Press

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Wall St up amid rate cut hopes after inflation data

Wall Street’s main indexes have risen and are set for monthly gains after a key inflation report reiterated moderating price pressures, cementing bets for an interest rate cut at the US Federal Reserve’s upcoming meeting in September.

The Personal Consumption Expenditure index, the US central bank’s preferred inflation gauge, rose 2.5 per cent in July on an annual basis compared to an estimate of 2.6 per cent, according to economists polled by Reuters.

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