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BN 08/24 17:11 Jackson Hole Message Is Labor Markets Don’t Justify Higher Rates
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Jackson Hole Message Is Labor Markets Don’t Justify Higher Rates 2014-08-24 19:58:13.732 GMT
By Jeff Kearns and Simon Kennedy Aug. 25 (Bloomberg) -- Global central bankers led by Federal Reserve Chair Janet Yellen said labor markets still have further to heal before economies can weather higher interest rates. * Signaled international monetary policies are set to diverge as economic recoveries increasingly differ, while placing jobs at center of decision-making by saying stronger hiring and wages are still needed to drive demand * Focus on jobs suggests Fed, BOE to tighten policy within a year as their economies show signs of strengthening; in contrast ECB President Mario Draghi, BOJ Governor Haruhiko Kuroda acknowledged they may be forced to deploy fresh stimulus * Story Link:NSN NATMFK6JIJUP<GO>
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To contact the reporter on this story: Madeleine Lim in New York at +1-212-617-2296 or mlim131@bloomberg.net To contact the editors responsible for this story: Madeleine Lim at +1-212-617-2296 or mlim131@bloomberg.net