BoE’s Tenreyro warns rate rise could be ‘self-defeating’; US jobless claims fall – business live – The Guardian

It is an upbeat day for markets with US futures pointing to a strong print out of the gates as the Dow looks set to jump more than 300 points. The latest US weekly jobless claims fell to 293,000 , the lowest level since the start of the pandemic and much better than analysts’ expectations, pointing to a potential pickup in the labour market after last Friday’s disappointing non-farm payrolls report.

Meanwhile US producer inflation hit a 9-month low, with producer prices up 0.5% month-on-month, the smallest increase so far in 2021 and below forecasts. However, the annual producer inflation continued to rise, hitting 8.6% the highest since November 2010, stoking concerns about elevated price levels.

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