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Brazil Unemployment Rate Stays at 5.3% in August
Developing
In Short: Brazil's unemployment rate remained unchanged at 5.3% in August, according to new data.
Brazil's unemployment rate held steady at 5.3% in August, according to the latest figures released by the country's statistical agency.
Both the Brazilian and US central banks raised interest rates last week, responding to inflation risks and signaling that future decisions will depend on economic data.
The Reserve Bank of Australia (RBA) increased its cash rate to 4.60%, as expected, leaving room for further hikes if necessary.
Rising expectations of additional Federal Reserve interest rate hikes, along with inflation concerns driven by oil prices, have pushed US bond yields to multi-year highs, keeping the US dollar near a two-month high.
The recent movement in the Brazilian currency appears to be a corrective bounce, with broader expectations still tied to further Federal Reserve rate hikes.
What's still developing
- Nothing material beyond the confirmed record.