UK average weekly earnings growth dipped 0.6pp from September to 2.4% 3m/y in October

Dec 17, 2015 02:19 am UTC| Commentary

UK average weekly earnings growth dipped 0.6pp from September to 2.4% 3m/y in October, worse than consensus expectations. Equally, growth in core earnings surprised to the downside, dipping 0.4pp to 2.0% 3m/y, back to its...

Polish labor market strengthens

Dec 17, 2015 01:01 am UTC| Commentary Central Banks

The Central Statistical Office in Warsaw released the November 2015 gross average wage level, which indicated a year-over-year rise of 4.0%, a tenth of a percent greater than consensus. Average paid employment for November...

Not much leeway for UK unemployment to fall further

Dec 17, 2015 00:12 am UTC| Commentary

UK unemployment in the prime category (ages 25 to 49), consisting of the bulk of the working age population, dropped by 10k, more than cancelling out the rise in September. It has been in continued decline since January...

New Zealand GDP rose 0.9% in Q3

Dec 16, 2015 23:37 pm UTC| Commentary

New Zealand GDP rose by 0.9% in the September quarter, a bit above market expectations. This partly represents payback for the weaker than expected pace of growth over the first half of this year (June quarter growth was...

FOMC: Lift-off, finally

Dec 16, 2015 22:32 pm UTC| Commentary Central Banks

After probably the longest run-up in history, the Fed hiked interest rates at todays meeting. In a unanimous decision, the target range for federal funds was increased to 0.25%-0.50%. Fed chair Yellen promised a gradual...

Federal Reserve raises policy rate for the first time in nearly a decade

Dec 16, 2015 20:00 pm UTC| Commentary Central Banks

They did it. As near-universally expected, the Federal Open Market Committee (FOMC) announced an increase in the federal funds target rate of 0.25 percentage points to a range of 0.25% to 0.50%. The upper range of this...

Last thoughts ahead of expected Fed lift-off

Dec 16, 2015 17:38 pm UTC| Commentary Central Banks

It is widely expected that, after a seven-year period at near-zero, the US Fed will raise interest rates. Economists anticipate a 25bp increase in the target range for the fed funds rate. Admittedly, Chicago Fed President...