Volatility measured by the Merrill Lynch Option Volatility Estimate MOVE Index rose to 98.79 yesterday from 95.70. It reached 117.89 on July 5, the most since December 2010.
Policy makers next meet Sept. 17-18. With inflation below the central bank’s 2 percent target, officials have room to continue buying bonds to pump money into the economy even if they reduce the amount. Their preferred inflation gauge, the personal consumption expenditures index, increased 1.3 percent in the 12 months ended in June.