US initial jobless claims dropped -5k to 213k in the week ending September 10, below expectation of 227k. Four-week moving average of initial claims dropped -8k to 224k. Continuing claims rose 2k to 1403k in the week ending September 3. Four-week moving average of continuing claims dropped -7.75k to 1413k. Full release here.
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RBA Governor Michele Bullock pushed back against the market’s initial interpretation of a divided board, emphasizing that the 5–4 split in the decision on today’s 25bps hike reflects a debate over “timing” rather than “direction”. Read more…
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RBA delivered a widely expected 25bps hike to 4.10%, but the real surprise lay in the 5–4 split decision, exposing a deeply divided board. The narrow margin suggests that while policymakers are concerned about inflation, Read more…