US jobs figures are keeping monetary policy in the spotlight after a week of outsized interest rate movements ended with more strong jobs growth, opening the way for more big hikes.
The US Federal Reserve lifted rates by 0.75% on Wednesday and raised Wall Street expectations on the eventual peak. Today’s non-farm payrolls report showed the addition of 261,000 jobs in October, stronger than the 200,000 predicted but down from 263,000 the previous month.
The Bank of England lifted by 0.75% to 3% yesterday, but the pound weakened as policymakers gave a softer-than-expected rates outlook and warned of a two-year recession.
