After the CPI release, the probability of the Federal Reserve (Fed) raising interest rates in October has risen to 43.7%.

Following the release of the U.S. September CPI data, according to CME’s FedWatch Tool: The probability that the Federal Reserve will hold interest rates steady in October is 56.3%, while the probability of a cumulative 25 basis point rate hike is 43.7%. For December, the probability of the Fed keeping rates unchanged is 4.3%, the probability of a cumulative 25 basis point hike is 55.3%, and the probability of a cumulative 50 basis point hike is 40.4%.

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