Interest rates in the world’s biggest economy are going up before Christmas. The US employment rate is below where it was when the financial crisis broke nine years ago and wage growth remains extremely sluggish. Hourly wage rates actually fell slightly last month. It has been signalling for some time that a December rate rise is in prospect: the November jobs’ report was the last piece of the jigsaw. Relations between Trump and Yellen are unlikely to be cordial, but US rates would have been going up this month even if Clinton had won.

Source: The Guardian December 02, 2016 14:18 UTC