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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE kept its key interest rate unchanged and issued a downbeat forecast for the UK economy
The BoE, at its latest monetary policy meeting, kept its benchmark interest rate unchanged at 0.75% and its asset purchase facility at £435.0 billion, as widely expected. Further, the central bank lowered its growth forecast for the British economy his year and next, amid Brexit uncertainties and a weaker world outlook. Additionally, the BoE Governor, Mark Carney, indicated that an interest rate cut would have led to inflation being above the central bank’s target in a few years’ time.
Euro-zone unemployment rate unexpectedly declined in December
In the Euro-zone, the unemployment rate unexpectedly fell to a level of 7.40% in December, compared to market expectations of an unchanged reading. The unemployment rate had recorded a reading of 7.50% in the previous month.
Euro-zone industrial confidence index advanced in January
In the Eurozone, the industrial confidence index rose to a level of -7.30 in January, compared to market expectations of an advance to a level of -8.70. The index had recorded a reading of -9.30 in the prior month.
Euro-zone consumer confidence index remained flat in January
In the Euro-zone, the final consumer confidence index remained unchanged at a level of -8.10 in January. Market expectation was for to record a steady reading.
Euro-zone economic sentiment indicator climbed in January
In the Euro-zone, the economic sentiment indicator advanced to a level of 102.50 in January, compared to a revised level of 101.30 in the previous month. Market anticipation was for the economic sentiment indicator to rise to a level of 101.80.
US annualised GDP advanced as expected in 4Q 2019
In the US, the flash annualised gross domestic product advanced 2.10% on a QoQ basis in 4Q 2019, compared to a similar rise in the previous quarter. Markets were anticipating the annualised GDP to advance 2.10%.
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