Guardian Stockbrokers Key Economic News Tuesday 18 October 2022

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

US NY Empire State manufacturing index declined more than expected in October

In the US, the NY Empire State manufacturing index fell to a reading of -9.10 in October, compared to a reading of -1.50 in the prior month. Markets were expecting the index to fall to a level of -4.00.

Japan industrial production advanced more than anticipated in August

In Japan, industrial production rose 3.40% on a MoM basis in August, compared to a rise of 0.80% in the previous month. Market anticipations were for the industrial production to rise 2.70%.

RBA expects to increase interest rates further

Minutes of the Reserve Bank of Australia September meeting signalled that the central bank expects to raise interest rates further in the coming months. Further, the RBA indicated that the pace and timing of the rate hikes would be determined by the economic data

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