Friday 21st October 2022

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The UK is on the lookout for another Prime Minister after Liz Truss announced her resignation overnight. Her replacement will be found by Friday next week, at the latest, but NAB’s Gavin Friend says there could be a new PM in place as soon as Monday. There wasn’t a massive market reaction, with the good news offset by the uncertainty of who will replace her. Boris perhaps? Yes, really. Meanwhile Aussie jobs numbers show the labour market remains tight, as did US weekly jobless claims. In short, another day with no signs of inflation easing.

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