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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK GfK consumer confidence climbed more than anticipated in June
In the UK, the GfK consumer confidence rose to -24.00 in June, compared to a level of -27.00 in the previous month. Market anticipations were for the consumer confidence index to rise to -26.00.
BoE raises its key interest rates
The Bank of England (BoE) lifted its key interest rates by 50 basis points to 5.00%, the highest since 2008. Moreover, the central bank hinted at further monetary policy tightening if inflationary pressures persist.
Euro-zone consumer confidence rose more than expected in June
In the Euro-zone, the consumer confidence index advanced to -16.10 in June, compared to a level of -17.40 in the prior month. Markets were expecting consumer confidence to rise to -17.00.
US existing home sales unexpectedly advanced in May
In the US, existing home sales unexpectedly rose 0.20% on MoM basis in May, compared to a revised fall of 3.20% in the previous month.
US Chicago Fed National activity index dropped more than anticipated in May
In the US, the Chicago Fed National Activity Index declined to -0.15 in May, compared to a revised level of 0.14 in the previous month. Markets were expecting the index to remain flat.
US initial jobless claims remained steady in the week ended 16 June 2023
In the US, initial jobless claims remained steady at 264.00 K in the week ended 16 June 2023.
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