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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE governor says risks to the economy remain tilted to the downside
Bank of England (BoE) Governor, Andrew Bailey, in his latest speech, stated that risks to the British economy remain tilted to the downside. He stated that the central bank’s ultra-low interest rates and its bond-buying programme would help in the economic recovery. Andrew Bailey reiterated the BoE’s guidance that it does not intend to tighten monetary policy until there’s clear vidence the economy is absorbing excess capacity.
UK retail sales across all sectors rose in February
In the UK, retail sales across all sectors climbed 9.50% on a YoY basis in February, compared to an advance of 7.10% in the prior month.
Euro-zone investor confidence index rose in March
In the Euro-zone, the investor confidence index rose to a level of 5.00 in March, compared to a reading of -0.20 in the previous month.
German industrial production unexpectedly fell in January
In Germany, the seasonally adjusted industrial production fell 2.50% on a MoM basis in January, compared to a revised rise of 1.90% in the previous month. Markets were expecting industrial production to record an advance of 0.20%.
Japan’s GDP rose less than initially estimated in 4Q 2020
In Japan, the final gross domestic product (GDP) climbed 2.80% on a QoQ basis in 4Q 2020, compared to a rise of 5.30% in the prior quarter. The preliminary figures had indicated a rise of 3.00%.
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