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BoS: Fed to interpret soft jobs growth as supply problem and leave rate projections unchanged

While jobs growth in the US slowed to just 138,000 in May, Bank of Singapore believes this was due to supply issues and the bank expects the Fed to act by hiking rates in mid-June. The annualised monthly average jobs growth rate fell to 162,000, from 187,000 and 226,000 in 2016 and 2015, respectively. Though this rate is well above…

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