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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK Halifax house price index rose in September
In the UK, the Halifax house price index advanced 1.60% on a MoM basis in September, compared to a revised gain of 1.70% in the prior month.
UK house price index climbed less than expected in July
In the UK, the house price index rose 2.30% on a YoY basis in July, compared to a revised rise of 2.90% in the previous month. Market were expecting the house price index to record a rise of 4.5%.
German industrial production unexpectedly fell in August
In Germany, seasonally adjusted industrial production registered a drop of 0.20% on a MoM basis in August, compared to a revised rise of 1.40% in the prior month. Market expectations were of industrial production to record an advance of 1.50%.
US number of mortgage applications climbed in the week ended 2 October 2020
In the US, the number of mortgage applications registered a rise of 4.60% on a weekly basis in the week ended 2 October 2020, compared to a drop of 4.80% in the prior week.
FOMC officials expect rates to stay near zero until the end of 2023
The Federal Open Market Committee (FOMC), in its September meeting minutes, indicated that it would maintain its interest rate near zero until it achieves its inflation target of 2%. Additionally, officials released projections showing they expected rates would stay near zero until the end of 2023 at least. However, the policymakers remained split over how to apply a new strategy for monetary policy at their September meeting and offered no clear sense of their next steps to offset the coronavirus recession.
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