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Switzerland CPI Inflation 1.4% y-o-y (consensus 1.1%) in Apr-24

- Switzerland's CPI inflation rate for April 2024 increased to 1.4% year-on-year, surpassing market expectations of 1.1%.
- The month-on-month change in CPI for April 2024 increased to 0.3%, which is a brisk annualised pace.

New Zealand Unemployment Rate 4.3% (consensus 4.2%) in Q1-24

- New Zealand's unemployment rate increased surprisingly far in Q1-24 to 4.3%, surpassing the one-year average by 0.35 percentage points and the long-run average by 0.70 percentage points.
- Employment contracted by 0.2% quarter-on-quarter, but labour costs rose by 0.8% q-o-q and 3.8% y-o-y.

US Policy Rate 5.5% (consensus 5.5%) in May-24

• The FOMC unsurprisingly held the federal funds rate steady at 5.25-5.5%, reflecting ongoing economic strength paired with higher-than-expected inflation, complicating efforts to reach the 2% inflation target.
• The Committee also decided to slow the pace of its securities holdings reduction, a strategic move aimed at mitigating market stress and aligning with broader economic stability.
• The FOMC emphasizes its commitment to a data-driven approach, indicating that future interest rate decisions will closely depend on inflation trends and economic data. It maintains readiness to adjust policy as needed to balance growth and price stability.

Japan Unemployment Rate 2.6% (consensus 2.5%) in Mar-24

- Japan's unemployment rate for March 2024 remained at 2.6%, slightly higher than consensus estimates, indicating a surprisingly stable labour market.
- The Jobs to Applications Ratio for the same month increased to 1.28, strengthening the already favourable environment for job seekers amid more job openings than applicants.