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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Canadian house price index rose in December
In Canada, the house price index rose 0.21% on a MoM basis in December. In the prior month, the index had advanced 0.16%.
IMF says that the global economic outlook to “remains sluggish”
The IMF, in its recent update on world economic outlook, lowered its global economic growth forecasts to 2.9% and 3.3% for both, 2019 and 2020, due to escalating trade tensions and pressures in emerging markets. Moreover, the Euro-zone growth was lowered to 1.3% for 2020, largely due to a manufacturing contraction in Germany and decelerating domestic demand in Spain. However, the IMF has upgraded its growth forecast for China to 6.0% for 2020, as the US trade deal included a partial tariff reduction and cancelled tariffs on Chinese consumer goods that had been scheduled for December.
BoJ kept its key interest rate unchanged
The Bank of Japan (BoJ), at its latest monetary policy meeting, kept its benchmark interest rate unchanged at -0.10%, and maintained its yield target for 10-year Japanese government bonds at around 0.00%, as widely expected. Moreover, the central bank raised its growth forecast for the fiscal 2020 to 0.90% from 0.70%. Likewise, the projection for 2021 was lifted to 1.10% from 1.00%.
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