The Bank of England faces a genuinely uncertain September 17 rate decision as three MPC members already voted for a rise to 4% in July and UK inflation has started climbing again.
Category: Economy
Posted inEconomy
ECB Poised to Raise Rates to 2.5% on Wednesday as Eurozone Inflation Hits 3.3%
The ECB meets Wednesday with markets pricing near-certain odds of a hike to 2.5 percent after eurozone inflation rose to 3.3 percent in August.
Posted inEconomy
Bank of Canada Holds at 2.25% Amid Tariff Risk and Fragile Recovery
The Bank of Canada kept its benchmark rate at 2.25% for the seventh consecutive meeting on September 2, citing trade war uncertainty even as Q2 GDP expanded at an annualised 3.3 percent.
Posted inEconomy
US August Services PMI Rises to 55.4, Adding Pressure on Federal Reserve
The ISM Services PMI climbed from 54.1 to 55.4 in August, beating forecasts and signalling resilient domestic demand that complicates the Federal Reserve’s case for holding interest rates steady in September.
Posted inEconomy
August Payrolls Triple Estimates at 162,000, Pushing September Fed Hike Odds Higher
US employers added 162,000 jobs in August, more than tripling the 53,000 consensus estimate, with the unemployment rate steady at 4.1% and markets tilting back toward a September Federal Reserve rate increase.
Posted inEconomy
August Payrolls Due as Waller’s Rate-Hold Signal Cuts Fed Hike Bets to Coin-Flip Odds
The US August nonfarm payrolls report is due Friday at 8:30 AM ET, with economists projecting 53,000 new jobs after July’s contraction and ADP’s weakest private hiring reading since January.
Posted inEconomy
US Private Hiring Slows to 38,000 in August, Weakest Reading Since January
ADP’s August payroll survey shows private employers added just 38,000 jobs, the least since January, with manufacturing shedding 17,000 positions two days before the official BLS report.
Posted inEconomy
US Manufacturing Expands for Eighth Month but Prices Stay Elevated at 71.1%
The ISM Manufacturing PMI registered 54.6% in August — the eighth consecutive month of expansion — while the prices paid index held at 71.1% for the 23rd straight month of rising input costs.
Posted inEconomy
Eurozone Inflation Rises to 3.3% in August, ECB Hike Odds Hit 98%
The eurozone’s preliminary August CPI climbed to 3.3% from 2.9% in July, with traders pricing near-certain odds of an ECB rate hike in September as energy-driven inflation accelerates for a second straight month.
Posted inEconomy
China’s Factory Activity Edges Toward Recovery as New Orders Turn Positive in August
China’s NBS manufacturing PMI rose to 49.8 in August from 49.2 in July, with new orders and export orders both crossing into expansion territory for the first time since May.