January 23, 2025
United States:
US Jobless Claims Rise Slightly But Recurring Applications Surge
First-time applications for US unemployment insurance edged higher, while the number of Americans on benefit rolls climbed to a more than three-year high.
Initial claims increased by 6,000 to 223,000 in the week ended Jan. 18. The median forecast in a Bloomberg survey of economists called for 220,000 applications.
Europe:
Escriva Sees ECB Need to Move to Neutral Stance in Next Semester
The European Central Bank should adjust monetary policy to a level that neither stimulates nor constricts the economy, according to Governing Council member Jose Luis Escriva.
“We have a policy that is somewhat restrictive, and we need to move to a more neutral stance over the next semester or so,” the Bank of Spain chief said in Davos on Thursday.
Asia:
Bank of Japan Expected to Raise Interest Rates by Most in 18 Years
The Bank of Japan is widely expected to raise its benchmark rate Friday by the most in 18 years, in a show of boosted confidence over the sustainability of inflation as it progresses down its normalization path.
Governor Kazuo Ueda and his board will likely decide to increase the overnight call rate to 0.5% at the conclusion of their two-day meeting.
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