Labour market tightness vs the credit crunch

Monday 8th May 2023

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A surprise increase in US jobs on Friday but NAB’s Tapas Strickland says it probably won’t have scuppered expectations for a pause by the FOMC, unless there’s an unpleasant surprise in US inflation numbers this week. The question is, how much of the work of the Fed will now be done by the credit crunch? That makes today’s US Senior Loan Officers Survey particularly important. Also on today’s podcast, a look ahead to the BoE and a look back at Friday’s Statement of Monetary Policy from the RBA and why Aussie home loan commitments have picked up so much.

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