September 11, 2025
United States:
US Core CPI Rises as Expected, Keeping Fed on Track for Rate Cut
Underlying US inflation rose as expected in August, keeping the Federal Reserve on track to cut interest rates next week.
The core consumer price index, excluding the often volatile food and energy categories, increased 0.3% from July, according to Bureau of Labor Statistics data out Thursday. When incorporating those components, the overall CPI rose 0.4%, the most since the start of the year.
Europe:
ECB Keeps Interest Rates on Hold and Traders Rule Out More Cuts
The European Central Bank kept borrowing costs unchanged for a second meeting, deeming inflationary pressure contained and economic dangers abating. Investors concluded that there’ll be no more cuts.
The deposit rate was left at 2% on Thursday – as predicted by all analysts in a Bloomberg survey. Policymakers offered no guidance on future steps, continuing to stress that they’ll act one meeting at a time based on incoming data.
Asia:
Indonesian Yield Curve Steepest Since 2023 on Fiscal Fears
The gap between yields of Indonesia’s short- and long-dated bonds is poised to increase as concerns over the country’s fiscal outlook persist.
The spread between two- and 10-year bond yields climbed to about 114 basis points last week, the most since January 2023, although the gap has narrowed slightly in the past few days. Shorter-dated notes have rallied as Bank Indonesia lowered borrowing costs, while longer maturities remain vulnerable to risk of budgetary shortfall, which may lead to more outflows.
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