Like his BOJ counterpart Haruhiko Kuroda, the European Central Bank president is finding his extraordinary measures to combat low inflation are hurting banks, draining the bond market and flattening the yield curve -- outcomes that threaten to impede or even reverse the impact of his monetary stimulus. Kuroda’s response on Wednesday was to revamp the BOJ’s strategy by effectively skewing the focus of its asset-purchase program toward shorter-maturity securities, as well as pledging to overshoot on his 2 percent inflation target.
Initial claims for state unemployment benefits declined 8,000 to a seasonally adjusted 252,000 for the week ended Sept. 17, the Labor Department said on Thursday, the lowest level since mid-July. Claims for the prior week were unrevised.
The November contract for global benchmark Brent was up 0.83% at $47.22 a barrel Thursday, while its U.S. counterpart West Texas Intermediate gained 0.99% to $45.79.
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