Inflation in US under control, UK has problems
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Wednesday 14th JUne 2023
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The CPI numbers from the US yesterday showed core inflation is roughly in-line with expectations, raising hopes that the FOMC will pause rates at their meeting on Thursday. Shares are higher in anticipation. It\\u2019s a different story in the UK tough, where a tight labour market continues to cause problems. Yesterday\\u2019s employment data saw unemployment fall, whilst wages increased further. NAB\\u2019s Taylor Nugent says two-year yields in the UK shot above the level reached during the brief Liz Truss premiership, when the BoE had to step in to protect pension funds. Somewhere in between, sits Australia, where yesterday\\u2019s NAB Business Survey with clear signs of a slowing economy. But, of course, that\\u2019s good for controlling inflation.
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