The final U.S. consumer inflation report of the year on Wednesday cemented expectations for another quarter-point rate cut by the Federal Reserve's monetary policy committee next week. The headline and core consumer price index (CPI) for November came in-line with consensus estimates,

The market sees the probability of another 25 basis point interest rate cut at next week's Federal Reserve meeting as rising despite inflation ticking higher in November.

Consumer inflation accelerated in November to 2.7% from 2.6% and core CPI was sticky at 3.3%. But a December Fed rate cut still looks like a sure thing.