Citi expects December Fed rate hike after upside inflation surprise

​Citigroup ​said ‌on Wednesday ​it expects the ‌Federal Reserve to raise interest rates ‌by 25 basis points ‌in December after September US ⁠core ​inflation ⁠data came in significantly ⁠above expectations.

The brokerage ​had previously expected ⁠the Fed to ⁠leave interest ​rates unchanged for the ⁠rest of the ⁠year.