The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE maintained its key interest rate, citing Brexit chaos
The Bank of England’s (BoE) Monetary Policy Committee voted unanimously to retain the benchmark interest rate steady at 0.75%, amid heightening uncertainty over Brexit date. Meanwhile, the central bank signalled that the British economic outlook will significantly depend on the nature and timing of the nation’s departure from the European Union, while a disorderly exit is likely to affect economic growth and jobs.
UK retail sales surprisingly rose in February
In the UK, retail sales registered an unexpected rise of 0.40% on a monthly basis, in February, higher than market expectations for a fall of 0.40%. In the previous month, retail sales had recorded a revised rise of 0.90%.
Euro-zone consumer confidence index rose in March
The flash consumer confidence index in the Euro-zone registered a rise to a level of -7.20 in March, compared to a level of -7.40 in the previous month. Market expectation was for the index to climb to a reading of -7.10.
US initial jobless claims fell in the last week
The seasonally adjusted initial jobless claims in the US dropped to a level of 221.00 K in the week ended 16 March 2019, compared to a revised reading of 230.00 K in the prior week. Markets were expecting initial jobless claims to ease to a level of 225.00 K.
US leading indicator rose more than expected in February
On a MoM basis, leading indicator in the US registered a rise of 0.20% in February, compared to a drop of 0.10% in the previous month. Markets were expecting leading indicator to climb 0.10%.
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