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Monday, 5 September 2016

US jobs report seen as lowering chance of Fed hike in September

Worse-than expected US jobs report signals that Fed may not hike rates in September: US nonfarm payrolls rose by 151k jobs in August, as reported by the US Bureau of Labor Statistics on Friday, lower than the expected increase of 180k jobs and a sharp decrease from the growth of 275k jobs in July. Some analysts see the jobs report as prompting the Fed to hold off on rate hikes, with BNY Mellon senior global markets strategist Marvin Loh saying he expected the Fed to wait at least until December for any potential rate hike, “when they can factor in three additional jobs reports as well as the US third-quarter growth report,” according to Reuters’ Lisa Twaronite.

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