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Traders increase chances of significant rate cuts in November

Posted on by L. Dreeye
Traders increase chances of significant rate cuts in November

The weaker-than-expected jobs report raises the prospect of a fairly aggressive interest rate cut by the Federal Reserve.

The US added 12,000 jobs in October, far less than economists had expected.

Part of the weakness is due to strikes in the manufacturing sector, which has seen job losses, although if these issues remain unresolved it will certainly not lead to more jobs and the economy going forward.