CITIC Securities Maintains View That the Fed Will Hold Rates Steady in September

According to Jin10, CITIC Securities said U.S. CPI rose 0.1% month on month in July and core CPI rose 0.2%, both in line with market expectations. The firm said July U.S. CPI edged up mainly because of a rebound in core goods and a pickup in core services, while energy prices fell for a second straight month and partly offset upward inflation pressure. It added that U.S. PPI growth continued to ease in July, that the overall upside risk to U.S. inflation expectations was manageable, and that uncertainty over the outlook for the U.S.-Iran conflict remained high, leaving risks of higher crude prices and U.S. inflation pressure still present. CITIC Securities maintained its view that the Federal Reserve will keep rates unchanged in September this year.