Thursday 5th August 2021The New Zealand unemployment rate has fallen sharply, adding more to the expectation that the RBNZ will lift interest rates next month. NAB’s David de Garis says the markets have now priced it in at more than 100 percent. US jobs, however, are taking longer to recover. The ADP employment report saw far fewer new jobs than expected. Although all eyes are on the more credible non-farm payrolls number on Friday, the ADP report did knock the S&P off its record high. Today, the Bank of England meets, although we can’t expect them to be signalling anything of significance.

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