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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
The BoE, in its latest monetary policy meeting, kept its benchmark interest rate unchanged at record low of 0.1% and maintained its government asset purchase target of £875 billion. However, the central bank indicated that two policymakers called for an immediate halt to the bond purchase programme, which is due to run until year-end. Further, the central bank warned that it expects inflation to rise slightly above 4% this year, double its target level, owing largely to the deepening energy price.
UK manufacturing PMI dropped more than expected in September
In the UK, the manufacturing PMI fell to 56.30 in September, compared to a level of 60.30 in the prior month. Markets were expecting the manufacturing PMI to drop to a level of 59.00.
Euro-zone manufacturing PMI fell more than anticipated in September
In the Euro-zone, the manufacturing PMI dropped to 58.70 in September, compared to a reading of 61.40 in the previous month. Markets were expecting the manufacturing PMI to fall to a level of 60.30.
German manufacturing PMI declined more than market forecast in September
In Germany, the manufacturing PMI fell to 58.50 in September, compared to a reading of 62.60 in the prior month. Markets were expecting the manufacturing PMI to drop to a level of 61.50.
US manufacturing PMI unexpectedly fell in September
In the US, the manufacturing PMI dropped to 60.50 in September, compared to a level of 61.10 in the previous month. Markets were expecting the manufacturing PMI to rise to a level of 61.50.
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