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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK CPI rose less than anticipated in August
In the UK, the CPI advanced 6.70% on a YoY basis in August, compared to a rise of 6.80% in the previous month. Markets were expecting the index to rise 7.00%.
UK DCLG house price index advanced in July
In the UK, the DCLG house price index rose 0.60% on a YoY basis in July, compared to a revised rise of 1.90% in the prior month.
German PPI dropped as expected in August
In Germany, the PPI fell 12.60% on a YoY basis in August, at par with market expectations and compared to a fall of 6.00% in the previous month.
US MBA mortgage application advanced in the week ended 15 September 2023
In the US, the MBA mortgage application rose 5.4% in the week ended 15 September 2023, compared to a drop of 0.80% in the prior week.
US Fed kept its key interest rate unchanged
The Fed, in its September monetary policy meeting, kept its benchmark interest rate unchanged at 5.50%, as widely expected and indicated that it anticipates one more rate hike before the end of the year. Additionally, the Fed reiterated that the interest rates are expected to be “higher for longer”. Moreover, the central bank forecasted that the US economy would slow from an estimated 2.1% in 2023 to 1.5% in 2024.
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