Market WATCh Weekly 24 September 2021

Market WATCh Weekly 24 September 2021

September 24, 2021

In Australia, payroll jobs continued to fall in late August. However, the flash Markit composite PMI indicated a slower decline in business activity in September. Offshore, the FOMC signalled that QE tapering will likely be announced at its next meeting in early November. The Bank of England said the case for interest rate hikes is strengthening, while the Norges Bank became the first G10 central bank to hike rates. The People’s Bank of China injected extra liquidity into the banking system to ease concerns over Evergrande’s woes. The flash PMI reports for September pointed to slower business activity growth and faster cost price increases in the US, UK and euro area, while US initial jobless claims unexpectedly rose last week.

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