Prepare for a US interest rate rise before Christmas

With an extra 178,000 jobs created in November and growth accelerating fast it seems unlikely the Federal Reserve can delay a rate rise any longer

Interest rates in the world's biggest economy are going up before Christmas. That was the clear message from the latest set of US employment figures measuring job creation in November.

Non-farm payrolls - the bellwether of demand for labour in the US - rose by 178,000, almost bang in line with what Wall Street was expecting. This was solid rather than spectacular, but good enough to trigger a move from the Federal Reserve, America's central bank, when it meets later this month.