April 5, 2024
United States:
US Jobs Roar Again as Payrolls Jump 303,000, Unemployment Drops
US payrolls rose in March by the most in nearly a year and the unemployment rate dropped, pointing to a strong labor market that’s powering the economy.
Nonfarm payrolls advanced 303,000 last month following a combined 22,000 upward revision to job gains in the prior two months, a Bureau of Labor Statistics report showed Friday. The rise exceeded all expectations in a Bloomberg survey of economists.
Europe:
ECB Seen Cutting Interest Rates Once a Quarter Starting in June
The European Central Bank will embark in June on a steady-yet-gradual path of interest-rate cuts that’ll run at least through the end of next year, according to economists surveyed by Bloomberg.
Respondents anticipate a first quarter-point reduction in the deposit rate — currently at a record 4% — at the policy meeting following the Governing Council’s upcoming session on April 11. Similar moves will ensue once a quarter, taking the rate to 2.25% by late 2025.
Asia:
RBI Sticks to Hawkish Line, Saying Inflation Job Not Done
India’s central bank stuck to its hawkish policy tone Friday as warnings of a coming heat wave renewed fears of an inflation spike.
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