Global markets: Fed should pick up pace, Kansas Fed official

By Commodity News Service Canada

WINNIPEG, April 8 – The following is a glance at the news moving markets globally.

LONG WAIT FOR INTEREST RATE HIKE COULD CAUSE FINANCIAL ISSUES
If the US Federal Reserve waits too long to raise interest rates it could create financial instability and prime the country for a recession, Kansas City Fed President Esther George said.

UK PRODUCTIVITY DOWN
The UK’s industrial production moved to its lowest level since 2008, according to reports on Friday.

Output, as measured per hour, fell 1.2 per cent in the three months to December compared to the previous quarter—and manufacturing output was down 1.8 per cent in the year up to February.

CANADIAN EMPLOYMENT GROWS
After three months of little change, employment increased by 41,000, or 0.2 per cent in March, lowering the unemployment rate by 0.2 percentage points to 7.1 per cent, Statistics Canada said in a report on Friday.

With the gains in March, employment grew by 0.2 per cent in the first quarter. This was the fourth consecutive quarter with 0.2 per cent employment growth.

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