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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE raised third quarter growth outlook and maintained its policy stance steady
The BoE, at its September monetary policy meeting, as widely expected, held its benchmark interest rate steady at 0.75%. The central bank maintained its stance that bond purchases are expected to end by the close of 2018 and that interest rates will stay unchanged at least through next summer. Meanwhile, policymakers raised their third-quarter economic growth forecast to 0.5% from 0.4%, citing better than expected improvement in the recent economic activity. Also, the central bank expressed concerns over Brexit uncertainty and cited possible impact of the decision on the economy.
ECB kept its key interest rate steady, slashed growth outlook for 2018
The ECB, at its September monetary policy meeting, maintained its key interest rate at 0.00%, in line with market expectations. Moreover, the central bank lowered the growth forecast for 2018 to 2.0% and 1.8% in 2019.
German CPI advanced as expected in August
In Germany, the final consumer price index (CPI) climbed 0.10% on a monthly basis in August, in line with market expectations. In the prior month, the CPI had advanced 0.30%.
US CPI rose less than expected in August
The CPI in the US advanced 0.20% on a monthly basis in August, lower than market expectations for an advance of 0.30%. In the prior month, the CPI had registered a similar rise.
US budget deficit widened in August
Budget deficit in the US rose to $214.10 billion in August, compared to market expectations of a budget deficit of $211.00 billion. The US had posted a budget deficit of $76.86 billion in the prior month.
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