Guardian Stockbrokers Key Economic News Thursday 12 October 2023

The key points from today’s economic news, brought to you by Guardian Stockbrokers.

UK RICS housing price balance index unexpectedly dropped in September

In the UK, the RICS housing price balance index unexpectedly fell to -69.00% in September, compared to 68.00% in the previous month.

German CPI rose as expected in September

In Germany, the CPI advanced 4.50% on a YoY basis in September, at par with market expectations and compared to a rise of 6.10% in the previous month.

US PPI climbed more than anticipated in September

In the US, the PPI rose 2.20% on a YoY basis in September, compared to a revised rise of 2.00% in the prior month. Markets were expecting the index to rise 1.60%.

US MBA mortgage applications rose in the week ended 06 October 2023

In the US, the MBA mortgage applications advanced 0.60% in the week ended 06 October 2023, compared to a fall of 6.00% in the prior week.

FOMC minutes: Fed officials see ‘restrictive policy’

Minutes of the US Fed’s September meeting indicated that policymakers forecasted that the monetary policy would stay restrictive for some time until inflation reaches towards the Fed’s target of 2.0%. However, the officials agreed to proceed carefully with future decisions.

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