Overseas Headlines – May 3, 2024

May 3, 2024

 

United States:

US Jobs Report to Show Continuing Streak of Big Employment Gains

Forecasters expect a monthly report on US employment to show strong job growth continued in April, even as wage pressures kept moderating.

The figures, to be published Friday by the Bureau of Labor Statistics, will probably show employers boosted payrolls by 240,000 last month, according to the median estimate in a Bloomberg survey. Average hourly earnings likely advanced 4% over the last 12 months, which would mark the slowest pace of increase in almost three years.

https://www.bloomberg.com/news/articles/2024-05-03/us-jobs-report-to-show-continuing-streak-of-big-employment-gains?srnd=economics-v2

Europe:

ECB Isn’t Pre-Committing to Particular Rate Path, Lane Says

The European Central Bank is taking a meeting-by-meeting approach for it’s next steps on monetary policy, according to Chief Economist Philip Lane.

“We are not pre-committing to a particular rate path,” Lane said at the Stanford Graduate School of Business on Thursday.

 https://www.bloomberg.com/news/articles/2024-05-02/ecb-isn-t-pre-committing-to-a-particular-rate-path-lane-says?srnd=economics-v2

Asia:

Bank of Korea’s Rhee Signals Rate Cut Delay as Fed Stays Tight

Bank of Korea Governor Rhee Chang-yong said the central bank will reconsider the timing of interest-rate cuts, amid expectations that any easing is likely to get delayed by a weak currency and a strong economy.

“Whether the rate cut timing will be pushed back, how much it will be pushed if it is, or if it will even come will be the question that needs to be reviewed,” Rhee told reporters at an Asia Development Bank conference in Georgia, according to a transcript released by the BOK. “I wouldn’t call it starting from scratch. But the situation has changed since April.”

https://www.bloomberg.com/news/articles/2024-05-03/bank-of-korea-s-rhee-signals-rate-cut-delay-as-fed-stays-tight?srnd=economics-v2

 

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2024-05-03T09:12:06-05:00