The key points from today’s economic news, brought to you by Guardian Stockbrokers.
ECB President Christine Lagarde signals further rate hikes
European Central Bank (ECB) President, Christine Lagarde, in her latest speech stated that the central bank would keep raising interest rate even with economic activity expected to “slow substantially.
German Ifo business climate index dropped more than expected in September
In Germany, the Ifo business climate index fell to 84.30 in September, compared to a reading of 88.50 in the prior month. Markets were expecting the index to fall to 87.10.
German Ifo current assessment index declined more than anticipated in September
In Germany, the Ifo current assessment index fell to 94.50 in September, compared to a reading of 97.50 in the previous month. Markets were anticipating the index to drop to 96.00.
German Ifo expectations index fell more than anticipated in September
In Germany, the Ifo expectations index fell to 75.20 in September, compared to a revised reading of 80.50 in the prior month. Market anticipations were for the index to fall to 75.20.
US Dallas Fed manufacturing business dropped less than expected in September
In the US, the Dallas Fed manufacturing business index fell to -17.20 in September, compared to a reading of -12.90 in the previous month. Market expectations were for the index to drop to -17.70.
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