November 21, 2024
US Initial Jobless Claims Decline to Lowest Level Since April
Applications for US unemployment benefits unexpectedly fell last week to the lowest level since April, illustrating a solid job market.
Initial claims decreased by 6,000 to 213,000 in the week ended Nov. 16. The median forecast in a Bloomberg survey of economists called for 220,000 applications.
Europe:
ECB Should Cut Each Meeting Until It Reaches 2%, Stournaras Says
The European Central Bank should lower borrowing costs at each meeting until it reaches a level that neither restricts nor stimulates economic activity, according to Governing Council member Yannis Stournaras.
“As inflation develops now and as the real economy develops now, I think yes we should have a cut in every meeting from now on until we get to what we call the neutral rate,” the Greek central-bank chief told Bloomberg TV on Thursday. “This is an illusive concept but according to the estimates, it’s about 2%.”
Asia:
BOJ’s Ueda Indicates Next Meeting Is Live with Uncertain Outcome
Bank of Japan Governor Kazuo Ueda gave the clearest hint yet that the central bank’s next monetary policy meeting will involve a live discussion over whether to raise interest rates.
“It’s impossible to predict the outcome of the meeting at this point,” Ueda said in response to questions at a Europlace forum in Tokyo on Thursday. “The next meeting is December, but there’s still a month to go. The vast amount of data and information will become available between now and then.”
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