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Brazil’s central bank held its steep interest rates unchanged after five consecutive cuts as inflation drifted away from target amid growing concern around government spending.
The Institute for Supply Management’s purchasing managers index for services providers was 54.5 in October, compared with 54.9 in September. Economists polled by The Wall Street Journal expected a reading of 54.8.
The widening to C$5.35 billion in September marked the the biggest surplus in over four years as exports hit a fresh record high.
Imports were higher than exports by $105 billion, down 0.7% from August, in contrast to economists’ expectations for the trade gap to widen.
Private companies added a net 86,000 jobs in October, ADP said. Economists polled expected 75,000 new private-sector jobs.
Inflation in the eurozone reached double the European Central Bank’s target in October as energy costs continued to rise.
The unemployment rate rose to 5.7%, its highest level since mid-2015, defying expectations of a fall and affirming the central bank’s recent caution around raising interest rates further.
The Democrat talks about elections, the economy, the DSA, and how things have changed since he coined that famous line 34 years ago.
Macklem defended the decision to raise interest rates to 2.5% last week, saying officials needed to address a buildup of cost pressures and expectations that a larger share of firms would raise their prices over the next 12 months.
U.S. job openings rose in September while hiring held relatively steady, according to a report from the Labor Department’s monthly Job Openings and Labor Turnover Survey.
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Annual inflation was 1.5% in October, compared with 1.0% in the prior month, Switzerland’s statistics office said.
The Reserve Bank of Australia raised interest rates by 25 basis points to 4.85%, the highest since 2008 after “materially” revising up its inflation forecasts.
The People’s Bank of China said it would hike the foreign-exchange reserve requirement ratio for financial institutions by 2 percentage points to 6%.
Headline inflation eased in October but remained above the central bank’s 2% target.
The Institute for Supply Management’s purchasing managers’ index was 55.5 in October – higher than the September figure of 54.5.
The bank is expected to join its peers in raising borrowing costs Thursday, with the Fed, ECB and BoJ having each raised rates at least once since start of U.S.-Iran war.
The Reserve Bank of Australia’s two-day policy meeting, which ends on Tuesday, will be among the most tense in recent memory, given the backdrop of plunging house prices and persistently high inflation that shows few signs of easing.
As women make inroads in male-dominated fields, firms look to improve jobsite culture.
Dallas Fed President Lorie Logan said at least two more 25-basis-point rate increases are needed given the current economic outlook.
The Iran war, tariffs and the AI build-out have pushed up the costs of materials, labor and borrowing.
Friday’s hold was widely expected, giving more time for previous hikes, including one in September, to feed through to the economy.
The number of people who filed for unemployment benefits was 194,000 in the week through Oct. 24, 1,000 lower than the revised 195,000 reported a week earlier.
The growth is pushing hopes for a continued expansion across the eurozone as a whole, despite higher energy costs.
The country’s consumer-climate index fell to minus 30.8 in its forecast for November, from minus 30.6 in October.
The S&P Cotality Case-Shiller National Home Price Index, which measures home prices across the country, rose 2.1% in the 12 months through August, compared with a 1.9% increase in July.
A rise in the share of rejected loan applications during the quarter and declining demand for credit signal that interest rate rises were helping to cool activity.
The University of Michigan survey’s headline index came in at 48, down from 48.1 in September and hovering near record-low levels.
The credit-card company is the latest to announce job cuts this week as Barclays, eBay and Volvo also lay off thousands of employees.
Retail spending by Canadians looks to have remained on the rise last month, though the pace is showing signs of cooling as uncertainty and gasoline prices remain high.
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