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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
ECB expand its bond buying programme
The European Central Bank (ECB), in its latest monetary policy decision, kept its key interest rate unchanged at 0.00% and stated that the interest rates would remain at their current low levels until the central bank achieves its inflation goal. Further, the central bank expanded its bond buying program by another €500 billion, valuing the total asset purchase at €1.85 trillion. Also, the ECB extended the horizon for purchases under the PEPP to March 2022 and reinvestments of assets maturing from the PEPP until the end of 2023.
UK manufacturing production rose more than expected in October
In the UK, manufacturing production advanced 1.70% on a MoM basis in October, compared to an advance of 0.20% in the previous month. Markets were expecting manufacturing production to record an advance of 0.30%.
UK industrial production climbed more than expected in October
In the UK, industrial production advanced 1.30% on a MoM basis in October, compared to an advance of 0.50% in the previous month. Markets were expecting industrial production to record an advance of 0.30%.
US CPI rose more than expected in November
In the US, the consumer price index (CPI) recorded a rise of 1.20% on a YoY basis in November, compared to a similar rise in the prior month. Market expectations were for the CPI to rise by 1.10%.
US number of initial jobless claims advanced more than expected in the week ended 04 December 2020
In the US, the seasonally adjusted number of initial jobless claims recorded a rise to 853.00 K in the week ended 04 December 2020, compared to a revised reading of 716.00 K in the prior week. Market expectations were for the number of initial jobless claims to climb to a level of 725.00 K.
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