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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK CPI advanced less than expected in August
In the UK, the consumer price index (CPI) rose 0.40% on a MoM basis in August, less than market expectations for an advance of 0.50%. In the prior month, the CPI had recorded a flat reading.
UK house price index advanced less than expected in July
In the UK, the house price index registered a rise of 0.70% on a YoY basis in July, lower than market expectations for a rise of 1.20%. The index had advanced by a revised 1.40% in the prior month.
Euro-zone CPI advanced less than expected in August
In the Euro-zone, the CPI climbed 0.10% on a MoM basis in August, compared to a drop of 0.50% in the prior month. Markets were anticipating the CPI to rise 0.20%.
Fed cuts its key interest rate
The US Federal Reserve (Fed), at its latest monetary policy meeting, slashed the benchmark interest rate by 25 basis points to a target range of 1.75% to 2.00% for the second time this year, citing slowing global economic growth and uncertainty over US trade conflicts. Further the central bank suggested that it was open to another cut before December 2019, if the economy showed additional signs of weakening.
BoJ keeps its key interest rate unchanged
The Bank of Japan (BoJ), at its latest monetary policy meeting, left the key interest rate steady at -0.10%, as widely expected. Additionally, the central bank indicated that it will re-examine economic and price developments at its next policy meeting in October 2019.
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