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Bank of Singapore: US monetary tightening pace to continue — but no sudden bond yield adjustments expected

Higher US inflation pressures, as signalled by the fastest growth in employment costs in 10 years and a 1.9% reading on the March private consumption expenditure (PCE) deflator, point to a “predictable” next step, according to Bank of Singapore. “Firms will typically struggle to raise productivity in a mature phase of the cycle, which means that higher labour costs will…

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