The ISM Services index rose 1.1 points to 56.0 in October, far better than the consensus forecast calling for a pullback to 53.8 and reaching the highest level since July 2022. The employment sub-index shot higher by 4.9 points to 53, more than undoing recent months’ weaker readings. Meanwhile, both the new orders (-2.0 points […]
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Summary of BoC Governing Council’s October 23 meeting highlights a decisive stance among members to prioritize growth through an aggressive 50bps rate cut. While members initially discussed the possibility of a modest 25bps cut, a Read more…
The unemployment rate rose to 4.8% in the September quarter, a smaller than expected rise due to more young people exiting the labour force. Wage growth is moderating broadly as expected. Unemployment rate: 4.8% (prev: 4.6%, Read more…
The BoE meeting concludes on Thursday Market expects a 25bps rate cut Rhetoric and voting pattern matter Pound could suffer from a dovish rate cut BoE meets on Thursday The Bank of England will hold Read more…