22 Jan 2014
Flash: Labour report surprises to the upside - TDS
FXstreet.com (London) - Strategists at TD Securities noted that the UK labour market report surprised to the upside again today.
Key Quotes:
“With the unemployment rate falling from 7.4% to 7.1% in November, in line with the downside risk that we had highlighted and significantly beating market expectations for a reading of 7.3%...this leaves the unemployment rate on track to hit the BoE’s 7.0% threshold next month, with the next employment report due on 19 February”.
“In between now and then though we have the next BoE decision on 6 February and the Inflation Report on 12 February, where we’ll likely see the demise of forward guidance and a move to old-fashioned monetary policy, where the focus will be turned toward inflation expectations”.
Key Quotes:
“With the unemployment rate falling from 7.4% to 7.1% in November, in line with the downside risk that we had highlighted and significantly beating market expectations for a reading of 7.3%...this leaves the unemployment rate on track to hit the BoE’s 7.0% threshold next month, with the next employment report due on 19 February”.
“In between now and then though we have the next BoE decision on 6 February and the Inflation Report on 12 February, where we’ll likely see the demise of forward guidance and a move to old-fashioned monetary policy, where the focus will be turned toward inflation expectations”.