October 6, 2023
United States:
US Hiring Surges, Bolstering Case for Another Fed Rate Hike
US employment unexpectedly surged in September, illustrating a durable labor market and bolstering the case for another Federal Reserve interest-rate hike.
Nonfarm payrolls increased 336,000 last month — the most since the start of the year — after sizable upward revisions to the prior two months, a Bureau of Labor Statistics report showed Friday. The unemployment rate held at 3.8%, and wages rose at a modest pace.
Europe:
ECB’s Knot Says He’s Comfortable With Current Policy Stance
European Central Bank Governing Council member Klaas Knot said he’s content with existing monetary-policy settings as officials seek to bring inflation back to 2%.
“I think I’m comfortable with the current stance of policy as it stands,” the Dutch central bank chief told a panel discussion Friday in Slovakia. “That’s not to say that there will not be new shocks.”
Asia:
India Central Bank Strikes Hawkish Tone, Fueling Bond Rout
The Reserve Bank of India struck a hawkish policy tone on Friday, saying inflation needs to be tamed and it may take measures to absorb excess cash in the market, sparking a run up in the local bond yields alongside a selloff globally.
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