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U.S. PPI Reduces Chances of a Rate Cut


May 20 2008

Year on year core PPI rose to 3.0% up from 2.7% in the U.S., its highest level since December 1991.  The breakdown looked especially strong, seeing the ex. food and energy component rise 0.4% in April.  As inflationary pressures continue to remain elevated in the U.S. many analyst now believe the Federal Reserve may be forced to leave overnight rates steady.  Following the PPI data the U.S. dollar firmed up nearly 0.6% against the Canadian dollar.



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