Wall St muted ahead of Nvidia results, hot inflation fuels rate-hike bets

Wall St muted ahead of Nvidia results, hot inflation fuels rate-hike bets  Reuters

The main inflation gauge used by the Federal Reserve to set U.S. interest rates rose at an elevated rate in July, potentially pushing the Federal Reserve closer to a vote to raise interest rates next month.

Directors at the Cleveland, Minneapolis, Kansas City, and Dallas Fed banks backed a quarter-point increase before policymakers voted to hold

The Australian sharemarket pared early gains after the release of the latest inflation figures, while investors digested another flurry of local corporate results.

Bureau of Statistics says CPI was 3.5% in July, casting doubt on Reserve Bank meeting its 2.5% inflation target without further hike Follow our Australia news live blog for latest updates Get our breaking news email, free app or daily news podcast Fears are growing that the Reserve Bank will hit millions of mortgage

Inflation is continuing to cool with the annual headline rate rising to 3.5 per cent in July, but some economists say it has increased the risk of another interest rate hike by the Reserve Bank of Australia this year.

Rudi Suardi/Getty Images Easing inflation may give mortgage holders a reprieve on further repayment increases for now – but maybe not for long. The consumer price index (CPI) rose 3.5% in the year to July, down from 3.8% in the year to June. But that was a smaller fall than had been predicted. The Reserve Bank of Austr

But experts warn of surge in food prices to come due to energy crisis and drought