Inflation in the United States softened more than expected in February, which set federal reserve frequency cuts back in the plan as spring and summer approach.

The consumer price index increased 0.2% in February, according to a report from the Bureau of Labor Statistics on Wednesday morning. Expectations were for 0.3% and January’s pace was 0.5%. On an annual basis, CPI was higher by 2.8% against forecasts for 2.9% and January 3.0%.

CORE CPI, which excludes food and energy costs, increased 0.2% in February against forecasts for 0.3% and January 0.4%. On an annual basis, Core CPI drove 3.1% against expectations of 3.2% and January 3.3%.

The price of Bitcoin (BTC) rose more than 1% to $ 84,100 in the minutes after the data. Control of traditional markets, Nasdaq 100 futures added to a previous progress, now higher by 1.5%. Bonds, the dollar and the gold remained a little changed.

It has been a few weeks for the markets, crypto among them, as previously scary prices were punctured by customs financial slowdown. Adding to these concerns, inflation has remained stubbornly well north of Fed’s 2% target, which questions whether the central bank could even ease the policy to fight any sluggishness. After another down day yesterday, the S&P 500 was lower by approx. 10% over the past month. Bitcoin at one point earlier this week had tumbled approx. 30% from its record height of $ 109,000 affected just before President Trump’s January 20 inauguration.

Prior to today’s report, the interest rate dealers had priced for approx. 40% chance of a maize -fed interest rate section and an 85% chance of one or more interest rates at the June meeting.

Looking ahead, Thursday’s manufacturer Price Index (PPI) report could either continue to confirm or refute News Rome today, providing further insight into the direction of inflation and potential bold rate.