The key points from today’s economic news, brought to you by Guardian Stockbrokers.
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UK public sector net borrowing deficit widened more than expected in August
In the UK, public sector net borrowing deficit widened to £11.06 billion in August, compared to a revised deficit of £2.11 billion in the prior month. Markets were expecting deficit to widen to £9.29 billion.
US Fed raises interest rate by 0.75 bps
The US Fed, at its September monetary policy meeting increased its benchmark interest rate for the third time by 0.75% to a range of 3.00%-3.25%, its highest level since 2008. Further, the central bank signalled more large increases in future to curb inflation.
US MBA mortgage applications advanced in the week ended 16 September 2022
In the US, the MBA mortgage applications climbed 3.80% in the week ended 16 September 2022, compared to a drop of 1.20% in the previous week.
US existing home sales dropped in August
In the US, existing home sales fell 0.40% on a MoM basis in August, compared to revised drop of 5.70% in the previous month.
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