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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK CPI rose less than expected in July
In the UK, the CPI advanced 2.00% on a YoY basis in July, compared to a rise of 2.50% in the prior month. Markets were expecting the CPI to record an advance of 2.20%.
Euro-zone CPI climbed as expected in July
In the Euro-zone, the CPI rose 2.20% on a YoY basis in July, in line with market expectations and compared to an advance of 1.90% in the prior month.
FOMC minutes: Indicated tapering of asset purchases expected this year
The US Fed’s latest meeting minutes signalled that policymakers attained “substantial further progress” with respect to the price stability goal, however the employment mandate needs progress to achieve the maximum-employment goal. Further, most officials discussed reducing the pace of asset purchases before the end of the year, while “some” members preferred to wait until early 2022 to start tapering.
US housing starts dropped in July
In the US, housing starts fell 7.00% on a MoM basis in July, compared to a revised rise of 3.50% in the prior month.
US building permits rose in July
In the US, building permits advanced 2.60% on a MoM basis in July, compared to a revised drop of 5.30% in the previous month
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