The Switzer Report founder Peter Switzer says the US market liked the “statistical surprise” that unemployment in the country fell. “I think the bottom line is, when you look at these numbers, unemployment fell and that would make you think that, hang on, if unemployment’s falling, America might need to see more interest rate rises,” Mr Switzer told Sky News Australia. “What the analysis is, is that the interest rates are starting to work, they’re part of the market, they’re part of the inflation story that wasn’t doing very well, namely wage rises – it’s starting to fall in line.”
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