Headline CPI cooled to 3.4% YoY, MoM at 0.3%, with core CPI at 3.6% YoY, lowest since May 2021, prompting a dovish market repricing and potential easing expectations.
Current data not enough to trigger rate cut yet, but the overall trend points towards easing, likely in September, barring labor market weakness. Equities expected to continue rising.
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