The key points from today’s economic news, brought to you by Guardian Stockbrokers.
ECB keeps interest rate unchanged
The ECB, in its latest monetary policy meeting, kept its benchmark interest rate unchanged at 0.00%, as widely expected. Further, the central bank indicated that it would slow down the pace of net asset purchases under its Pandemic Emergency Purchase Program over the coming quarter. However, the ECB reiterated that interest rates would remain at their present or lower levels until inflation is seen reaching 2%.
German trade surplus widened in July
In Germany, seasonally adjusted trade surplus widened to €17.90 billion in July, compared to a revised surplus of €13.50 billion in the previous month. Markets were expecting the trade surplus to narrow to €13.10 billion.
German current account surplus narrowed less than expected in July
In Germany, non-seasonally adjusted current account surplus narrowed to €17.60 billion in July, compared to a revised surplus of €22.60 billion in the prior month. Markets were expecting trade surplus to narrow to €14.90 billion.
US initial jobless claims dropped more than expected in the week ended 3 September 2021
In the US, the number of initial jobless claims fell to a level of 310.00 K in the week ended 3 September 2021, compared to a revised level of 345.00 K in the previous week. Markets were expecting the initial jobless claims to fall to a level of 335.00 K.
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