Today we have the US inflation data and it came out very well, since it is trending downwards.

Of course, it should be noted that if inflation dropped to 2%, it is not that things are cheaper, but that they are only 2% more expensive than last year.

But the underlying inflation is on the rise, heading towards 4%, which is what counts everything, except food and energy.

So, in my opinion, these data help JP to lower interest rates by only 25 basis points.