Hot Features
Premium
Trade smarter, not harder: Unleash your inner pro with our toolkit and live discussions.
The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE holds interest rate steady, warns of significant economic contraction in 2020
The Bank of England (BoE), in its latest monetary policy meeting, kept its benchmark interest rate unchanged at 0.10%, as widely expected. However, the central bank warned that it expects the British economy to contract by 14% over 2020, the sharpest annual downturn since 1706, driven by a 25% decline in the second quarter. The BoE expects unemployment to be at 8% in 2020, 7% in 2021 and 4% in 2022.
German trade surplus narrowed in March
In Germany, the seasonally adjusted trade surplus narrowed to €12.80 billion in March, compared to a trade surplus of €21.40 billion in the prior month. Markets were anticipating the nation to record a trade surplus of €18.90 billion.
German current account surplus widened in March
In Germany, the non-seasonally adjusted current account surplus expanded to €24.40 billion in March. Germany had reported a current account surplus of €23.70 billion in the previous month.
US non-farm payrolls dropped in April
In the US, non-farm payrolls fell by 20500.00K jobs in April, compared to a revised loss of 870.00K jobs in the prior month. Markets were expecting non-farm payrolls to record a decline of 22000.00K jobs.
US unemployment rate rose in April
In the US, unemployment rate advanced to 14.70% in April, compared to a reading of 4.40% in the previous month.
Click here to sign up for the in depth Guardian Stockbrokers Market Daily report.
