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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK CPI climbed more than expected in February
In the UK, the CPI rose 10.40% on a YoY basis in February, compared to a rise of 10.10% in the previous month. Markets were expecting the index to rise 9.80%.
UK DCLG house price index advanced less than expected in January
In the UK, the DCLG house price index rose 6.30% on a YoY basis in January, compared to a revised rise of 9.30% in the prior month. Market anticipations for the index were to rise 10.80%.
Euro-zone current account surplus unexpectedly widened in January
In the Euro-zone, current account surplus unexpectedly widened to €17.00 billion in January, compared to a revised surplus of €13.00 billion in the last month.
US MBA mortgage applications advanced in the week ended 17 March 2023
In the US, the MBA mortgage applications rose 3.00% in the week ended 17 March 2023, compared to an advance of 6.50% in the prior week.
The US Fed raised its key interest rate
The US Fed, in its latest policy meeting, raised its benchmark interest rate by 25 basis points to 5.00%, as widely expected. This was the ninth consecutive rate hike and the highest rate since 2007. However, the Fed projected only one more rate hike this year and signalled a possible pause in rate hike.
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