Guardian Stockbrokers Key Economic News Wednesday 22 June 2022

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The key points from today’s economic news, brought to you by Guardian Stockbrokers.

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UK house price index advance in June

In the UK, the Rightmove house price index rose 0.30% on a MoM basis in June, compared to a rise of 2.10% in the prior month.

Euro-zone current account deficit widened in April

In the Euro-zone, current account deficit unexpectedly widened to €5.76 billion in April, compared to a deficit of €1.60 billion in the previous month. Market anticipations were for a surplus of €4.40 billion.

US existing home sales declined more than expected in May

In the US, existing home sales fell 3.40% on a MoM basis in May, compared to a revised drop of 2.60% in the prior month. Markets were expecting existing home sales to record a fall of 0.20%.

US Chicago Fed National Activity Index dropped in May

In the US, the Chicago Fed National Activity Index eased to a level of 0.01 in May, compared to a revised reading of 0.40 in the previous month.

BoJ minutes indicate plans to keep rates low

Minutes of the Bank of Japan (BoJ) April meeting showed that policy members expressed concerns that excessive currency volatility could disrupt corporate business plans. However, many officials discussed the need to maintain the BoJ’s massive stimulus programme to support a still-fragile economy. Further, the BoJ reiterated its commitment to keep interest rates ultra-low at -0.10% and raised its inflation forecast.

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