Some traders are betting central bank will opt for 1 percentage point increase despite telegraphing a smaller riseThe Federal Reserve is under pressure to abandon its monetary policy guidance for the second month in a row in the face of soaring inflation, as market participants increasingly bet the US central bank will raise interest rates by a full percentage point at the end of the month.
Consumer prices across most goods and services rose again in June at a speed that pushed the annual increase to 9.1 per cent, the biggest jump since November 1981.