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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK consumer confidence unexpectedly declined in April
In April, the consumer confidence eased unexpectedly to a level of -9.00 in the UK, compared to a reading of -7.00 in the previous month. Markets were expecting the consumer confidence to record a flat reading.
ECB left the benchmark interest rates unchanged
The European Central Bank (ECB), at its April monetary policy meeting, decided to keep the benchmark interest rates steady at 0.00%, amid indications of an apparent slowdown in the Eurozone’s growth momentum. In a statement post-meeting, the ECB President, Mario Draghi, argued that growth in the common currency region remained strong but acknowledged evidence of a “moderation” in the exceptional growth pace seen last year. Further, the Governing Council remained confident that underlying strength in the economy will help inflation converge towards the central bank’s 2.0% target in the near-term.
US durable goods orders (ex transportation) remained flat in March
In March, the preliminary durable goods orders (ex transportation) in the US remained unchanged on a monthly basis, lower than market expectations for an advance of 0.50%. Durable goods orders (ex transportation) had risen 1.00% in the prior month.
US advance goods trade deficit dropped in March
Advance goods trade deficit in the US dropped to $68.00 billion in March, from a revised advance goods trade deficit of $75.90 billion in the prior month. Markets were expecting the nation’s advance goods trade deficit to fall to $75.00 billion.
BoJ kept interest rate steady at -0.10%
The Bank of Japan (BoJ), as widely expected, opted to keep the key interest rate steady at -0.10% and reiterated its pledge to keep the target for 10-year Japanese government bond yields at around zero. Additionally, the central bank removed a phrase on the timeframe for achieving its 2.0% inflation target and left its inflation forecast for next fiscal year unchanged at 1.8%.
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