Overseas Headlines – June 3, 2022

United States:

Job Growth in US Tops Estimates, Signaling Optimism on Economy

“US employers hired at a robust clip in May while wage gains held firm, suggesting the economy continues to power forward as the Federal Reserve raises interest rates at a steep pace to tame red-hot inflation.”



ECB Seen Shunning Half-Point Hike for Smaller Moves From July

“Efforts by European Central Bank hawks to secure an initial half-point hike in interest rates will fail as policy makers agree on a series of smaller increases, according to a Bloomberg survey of economists.”



Korea Inflation Outpaces Forecasts, Adding to Rate Hike Case

“South Korea’s inflation outpaced forecasts again, accelerating beyond 5% for the first time in more than 13 years and prompting the central bank to signal further interest rate hikes and the government to ramp up price-relief measures.”




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