United States:
U.S. Jobs Report, Supply-Side Economics, Fed Nominees: Eco Day
“The high levels of omicron during the survey period, the annual benchmark revisions by the Bureau of Labor Statistics and some doubts over the accuracy of seasonal adjustments in the tight labor market means forecasts for the number range from a 400,000 decline to a 250,000 increase. The unemployment rate is expected to hold at 3.9%. For traders it is difficult to see that any number would have a huge impact as the Federal Reserve is committed to tightening already and any surprise could be explained away by the short-term factors outlined above.”
Europe:
BOE Chief Economist Says Key Rate Likely to Rise Again in Coming Months
“Bank of England Chief Economist Huw Pill said the benchmark lending rate in the U.K. will probably rise again in the coming months and a squeeze on living standards is probably unavoidable. Speaking on Bloomberg TV the day after the BOE increased interest rates to 0.5% in its second successive hike, Pill said the bank as working to ensure that the U.K. didn’t suffer so-called second-round effects from high inflation.”
Asia:
Korea Inflation Stays High, Keeps Pressure on Central Bank
“South Korean consumer prices stayed well above the Bank of Korea’s target in January, keeping the pressure on policy makers to keep tightening as central banks around the world move to tamp down inflation. Consumer prices rose 3.6% from a year earlier, edging down from a 3.7% gain in December, according to data Friday from the statistics office that ran hotter than economists had expected.”
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