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.”

https://www.bloomberg.com/news/articles/2022-06-03/us-job-gains-top-estimates-unemployment-rate-holds-at-3-6?srnd=economics-vp#xj4y7vzkg

Europe:

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.”

https://www.bloomberg.com/news/articles/2022-06-03/ecb-seen-shunning-half-point-hike-for-smaller-moves-from-july?srnd=economics-vp#xj4y7vzkg

Asia:

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.”

https://www.bloomberg.com/news/articles/2022-06-02/south-korean-inflation-accelerates-to-fastest-pace-since-2008?srnd=economics-vp#xj4y7vzkg

 

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2022-06-03T09:06:44-05:00