Payrolls just the job for Goldilocks
Monday 5th July 2021Not too strong not too light, that seems to be the view of the non-farm payrolls in the US on Friday. It wasn\u2019t strong enough to signal change in the Fed\u2019s direction says NAB\u2019s Tapas Strickland. At the current pace, he said, it would take eight months to get back to the pre-pandemic level for payrolls. There\u2019s also discussion about changes expected from the RBA tomorrow. It\u2019s been well signalled that there will be policy changes. Tapas says, given the improvements in the Australian economy, the need to run QE at $100 billion every six months is not there anymore.
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