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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
ECB raises rates to a record high
The ECB, in its September monetary policy meeting, raised its key interest rate by 25 basis points to a record high of 4.0%, for a tenth consecutive time and signalled a pause in its rate hike cycle.
US initial jobless claims rose less than expected in the week ended 08 September 2023
In the US, initial jobless claims advanced to 220.00 K in the week ended 08 September 2023, compared to a revised level of 217.00 K in the previous week. Markets were expecting jobless claims to rise to 225.00 K.
US PPI advanced more than anticipated in August
In the US, the PPI rose 1.60% on a YoY basis in August, compared to a rise of 0.80% in the prior month. Markets were expecting the index to rise 1.20%.
US retail sales climbed more than expected in August
In the US, retail sales advanced 0.60% on MoM basis in August, compared to a revised rise of 0.50% in the prior month. Markets were expecting retail sales to rise 0.20%.
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