Following the release of the CPI data, the probability of a Federal Reserve rate cut in April rose to 42%.

Traders have increased their bets that the Federal Reserve may not wait until Fed Chairman Powell's term ends in May to cut interest rates, following a report from the Bureau of Labor Statistics that basic consumer price increases were slightly lower than expected. While traders still believe a June rate cut is the most likely outcome, the latest data projects a 42% probability of a Fed rate cut in April, up from 38% before the data release. (Jinshi)