Traders add to bets on Fed rate cuts after soft inflation data
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FILE PHOTO: Flags fly over the Federal Reserve Headquarters on a windy day in Washington, U.S., May 26, 2017. REUTERS/Kevin Lamarque/File Photo
(Reuters) -Traders on Thursday bet the U.S. Federal Reserve will resume cutting interest rates in June and probably deliver a full percentage point of reductions to its policy rate by the end of the year. after data showed inflation last month was softer than economists had expected.
Before the data, which showed consumer prices rose 2.4% in March, down from 2.8% in February, traders had expected the Fed to cut interest rates by 75 basis points over the course of the year.
(Reporting by Ann Saphir, Editing by Louise Heavens)
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