Ahead of the CPI release, the probability of a Fed rate hike in December stands at 100%.

On November 10, ahead of the release of the U.S. October inflation data, according to the CME FedWatch Tool: there is a 0% probability that the Federal Reserve will maintain interest rates unchanged in December, a 98.9% probability of a 25-basis-point rate hike, and a 1.1% probability of a cumulative 50-basis-point increase. The probability of the Fed maintaining rates unchanged through January next year is 0%, with a 64.9% probability of a cumulative 25-basis-point hike and a 34.8% probability of a cumulative 50-basis-point hike. (Jin10)