NBP Minutes: Most said labour market is less tight and this is reflected in lower wage growth; members said inflation outlook is uncertain, even in short-term
The NBP minutes suggest that most members believe the labor market is easing, which is leading to lower wage growth.
US Secretary of State Rubio says Thursday strikes were separate from Operation Epic Fury; if missiles are fired at the US, we're going to respond
USTR Greer says goal with China is stability; China should be important buyer of US ag and medical device
NBP Minutes: Most said labour market is less tight and this is reflected in lower wage growth; members said inflation outlook is uncertain, even in short-term
US Secretary of State Rubio says, after an Italian meeting, that the movement of US troops is a decision for President Trump to make; we should get an Iran response today; hope its a serious offer
US CENTCOM says there are currently over 70 tankers that US forces are preventing from entering or leaving Iranian ports; these commercial ships have the capacity to transport over 166 million barrels of Iranian oil worth an estimated USD 13bln-plus.
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- Supply shock caused by war in Middle East raises CPI in short-term but also negatively affects economic activity.
This perception of reduced labor market tightness, combined with an uncertain inflation outlook influenced by geopolitical supply shocks, could signal a need for caution in future monetary policy, particularly with respect to interest rates.
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