Wednesday 13th October 2021
The IMF released revised forecasts overnight, together with a warning that central banks need to tighten their monetary policy if inflation persists. Inflation concerns are certainly growing, backed with evidence in numerous surveys. 30% of small business owners in the US said they expect to lift wages, according to the latest NFIB survey. The latest jobs data for the US and UK shows how tight the labour market is, adding to fears of an inflation spiral. NAB’s Ray Attrill talks through the numbers and the central bank responses, as well as looking ahead to today’s trade data from China and tonight’s CPI numbers from the US.