According to data compiled by Wells Fargo since 2015, the Federal Reserve traditionally takes action only when the probability of raising or cutting interest rates rises above 69%. The bank said the consumer price index data released on Friday “is likely to determine” the central bank's decision at next week's meeting. Analysts led by Ohsung Kwon wrote in a report released on Tuesday: “Since 2015, the probability of raising or cutting interest rates has never fallen within the 38%-69% range, and the Federal Reserve has acted every time when the market has priced the meeting above 69%.”

According to data compiled by Wells Fargo since 2015, the Federal Reserve traditionally takes action only when the probability of raising or cutting interest rates rises above 69%. The bank said the consumer price index data released on Friday “is likely to determine” the central bank's decision at next week's meeting. Analysts led by Ohsung Kwon wrote in a report released on Tuesday: “Since 2015, the probability of raising or cutting interest rates has never fallen within the 38%-69% range, and the Federal Reserve has acted every time when the market has priced the meeting above 69%.”