Standard Chartered: The likelihood of a 50 basis point rate hike by the Federal Reserve in December has increased.

Standard Chartered strategists Steve Englander and Dan Pan said the likelihood of a 50-basis-point rate hike by the Federal Reserve in December is increasing, but nothing is certain yet. Underlying inflation shows no signs of declining; in fact, it may rise. While a wait-and-see approach is reasonable when inflation is above target and remains stable, there is no reason to wait if inflation is rising.