Guardian Stockbrokers Key Economic News Tuesday 19 July 2022

The key points from today’s economic news, brought to you by Guardian Stockbrokers.

UK Rightmove house price index advanced in July

In the UK, the Rightmove house price index rose 0.40% on a MoM basis in July, compared to a rise of 0.30% in the prior month.

US NAHB housing market index declined more than expected in July

In the US, the NAHB housing market index fell to 55.00 in July, compared to a reading of 67.00 in the previous month. Markets were expecting the index to fall to 65.00.

RBA minutes reveal that officials consider a 25 or 50 basis points rate hike

Minutes of the Reserve Bank of Australia (RBA) July meeting indicated that the members considered the possibility of increasing the benchmark interest rates by 25 or 50 basis points. The members agreed that further steps would need to be taken to normalise monetary conditions in Australia over the months ahead.

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