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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK CPI advanced less than expected in November
In the UK, consumer price index (CPI) climbed 10.70% on a YoY basis in November, compared to a rise of 11.10% in the prior month. Markets were expecting the CPI to rise 10.90%.
UK house price index advanced more than anticipated in October
In the UK, the DCLG house price index climbed 12.60% on a YoY basis in October, compared to a revised reading of 9.90% in the previous month. Market anticipations were for the index to rise 12.50%.
Euro-zone industrial production fell more than expected in October
In the Euro-zone, industrial production fell 2.00% on a MoM basis in October, compared to a revised rise of 0.80% in the prior month. Market expectations were for industrial production to fall 1.50%.
US Fed lifted its benchmark interest rate by 50 basis points
The US Fed, at its November monetary policy meeting, raised its benchmark interest rate by 0.5% points to a range of 4.25% to 4.50%, its highest rate in 15 years. Further, the policymakers expect to increase key interest rates further and keep them high for longer than they had earlier anticipated.
US MBA mortgage applications rose in the week ended 9 December 2022
In the US, the MBA mortgage applications rose 3.20% in the week ended 9 December 2022, compared to a drop of 1.90% in the previous week.
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