The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone industrial production rose more than expected in August
In the Euro-zone, the seasonally adjusted industrial production climbed 0.40% on a MoM basis in August, higher than market expectations for a rise of 0.30%. Industrial production had registered a drop of 0.40% in the previous month.
RBA minutes: Officials hinted at further rate cuts
Minutes of the Reserve Bank of Australia’s (RBA) recent monetary policy meeting indicated that the policymakers’ move to cut the official cash rate to a record low of 0.75% was taken due to global growth concerns and stubborn domestic unemployment rate. Moreover, the central bank signalled that further rate cuts remain an option, despite the risk of refuelling a property bubble in Sydney and Melbourne.
Kuroda: BoJ might opt further easing if required
The Bank of Japan (BoJ) Governor, Haruhiko Kuroda, stated that the central bank would not hesitate to take additional easing steps if risks to the economy grow and threaten momentum towards its 2.00% inflation target. Further, he stated that the central bank will keep short-longterm rates at current very low levels for an extended period, at least through around spring 2020.
Chinese CPI rose more than expected in September
In China, the consumer price index (CPI) registered a rise of 3.00% on a YoY basis in September, compared to an advance of 2.80% in the prior month. Markets were anticipating the CPI to climb 2.90%.
Click here to sign up for the in depth Guardian Stockbrokers Market Daily report.