Markets jumped from 56% to 73% odds of a February rate hike within hours of today’s CPI release. Markets immediately increased the probability of a February rate hike from 56% to 73%, effectively ending one of the shallowest easing cycles in more than three decades. Why this matters: The reversal carries immediate implications for property markets and mortgage holders, with a 0.25% rate increase now expected next week. “Before today’s inflation data, the market had priced in a 56% chance of a rate hike at February’s meeting,” said Oliver Hume Chief Economist Matt Bell. Property sentiment shiftsThe implications for property markets are immediate and significant.