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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE kept its key interest rate unchanged, ramps up bond-buying programme
The BoE, at its lastest monetary policy meeting, kept its benchmark interest rate unchanged at 0.10%. However, the central bank added an additional £100.0 billion to its bond buying programme to boost up the British economy amid the fallout from the coronavirus crisis. The additional bond purchases will take the total value of the central bank’s Asset Purchase Facility to £745.0 billion.
US Philadelphia Fed manufacturing index rose in June
In the US, the Philadelphia Fed manufacturing index climbed to a level of 27.50 in June, compared to a level of -43.10 in the prior month. Markets were expecting Philadelphia Fed manufacturing index to climb to a level of -23.00.
US number of initial jobless claims dropped in the last week
In the US, the seasonally adjusted number of initial jobless claims fell to a level of 1508.00 K in the week ended 13 June 2020, compared to a revised reading of 1566.00 K in the previous week. Markets were expecting number of initial jobless claims to fall to a level of 1300.00 K.
BoJ minutes: Officials uncertain over impact of the pandemic
Minutes of the Bank of Japan’s (BoJ) April meeting revealed that several policymakers urged for a stronger monetary support and closer policy coordination with the government to prevent Japan from returning to deflation. Further, the members indicated that they are uncertain on timing of when the pandemic will be contained and the impact on overseas and domestic economies.
Japanese national CPI climbed as expected in May
In Japan, the national consumer price index (CPI) registered a rise of 0.10% on a YoY basis in May, compared to a rise of 0.10% in the prior month. Markets were expecting CPI to record a rise of 0.10%.
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