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Societe Generale: Labor market is hot, Fed expected to cut rates by 25bp in November
Jinshi data on October 5th, BNP Paribas said that the US labor market report, which is firmly pushing the Fed to cut interest rates by 25 basis points in November, rather than 50 basis points, exceeds the market consensus. Next week’s CPI report may not change this view, as the overall inflation rate is expected to be driven entirely by fuel prices, and the core inflation rate is expected to remain high.