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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE Governor wades into debate over Britain’s membership of the EU
Bank of England Governor, Mark Carney during a speech at Oxford University stated that Britain has been the leading beneficiary of the EU’s single market and the membership has helped lift the nation’s growth and living standards, while also enhancing UK’s flexible labour market and dynamism. However, he also warned that closer Euro zone integration could threaten UK’s financial stability and officials need to safeguard the interest of non-members. Though his remarks signalled the backing of Britain’s EU membership, he steered clear of making any explicit statement on whether the country should remain inside the 28-nation bloc.
UK public sector net cash requirement reported a surplus in September
Public finances (public sector net cash requirement) in the UK has reported a surplus £17.90 billion in September, as compared to a revised surplus of £0.70 billion in the prior month.
UK public sector net borrowing recorded a surplus in September
The public sector net borrowing (excluding temporary effects of financial interventions) has posted a surplus of £9.40 billion in September, in the UK, as compared to a revised surplus of £11.60 billion in the previous month. Market expectation was for public sector net borrowing to show a surplus of £10.10 billion.
UK public sector net borrowing posted a surplus in September
In the UK, in September, the public sector net borrowing has posted a surplus £8.60 billion, following a revised surplus of £10.80 billion in the prior month. Markets were anticipating public sector net borrowing to report a surplus of £9.60 billion.
Swiss M3 money supply climbed in September
In Switzerland, M3 money supply registered a rise of 1.20% in September on an annual basis. In the prior month, M3 money supply had registered a rise of 1.40%.
US mortgage applications advanced in the last week
Mortgage applications registered a rise of 11.80% in the US on a weekly basis, in the week ended 16 October 2015. In the previous week, mortgage applications had registered a drop of 27.60%.
BoC keeps rates steady, downgrades economic outlook
Bank of Canada, as widely expected, kept its key overnight lending rate unchanged at 0.5% following reductions made in January and July because of the effects of lower oil prices. The central bank, in its latest monetary policy report, indicated that the Canadian economy has been recovering, supported by its previous rate cuts and past depreciation of the Canadian Dollar. However, it downgraded Canada’s economic outlook again for the next two years, citing that the nation continues to grapple with the aftershocks of lower prices for oil and other commodities.
Japanese investors became net buyers of foreign bonds in the previous week
Japanese investors were net buyers of ¥491.50 billion worth of foreign bonds in the week ended 16 October 2015, from being net buyers of a revised ¥1057.70 billion worth of foreign bonds in the previous week.
Japanese investors remained net buyers of foreign stocks in the previous week
Japanese investors were net buyers of ¥272.80 billion worth of foreign stocks in the week ended 16 October 2015, from being net buyers of ¥105.00 billion worth of foreign stocks in the previous week.
Japanese supermarket sales climbed in September
Japan Chain Stores Association has indicated that, in September, on an annual basis, supermarket sales in Japan climbed 2.90%. Supermarket sales had recorded a rise of 2.00% in the previous month.
Foreign investors turned net sellers of Japanese bonds in the previous week
Foreign investors turned net sellers of ¥50.30 billion worth of Japanese bonds in the week ended 16 October 2015, from being net buyers of ¥1006.80 billion worth of Japanese bonds in the previous week.
Japanese all industry activity index declined as expected in August
On a monthly basis, the all industry activity index in Japan registered a drop of 0.20% in August, in line with market expectations. In the previous month, the all industry activity index had recorded a revised drop of 0.10%.
Foreign investors turned net sellers of Japanese stocks in the previous week
Foreign investors turned net sellers of ¥29.30 billion worth of Japanese stocks in the week ended 16 October 2015, as compared to being net buyers of a revised ¥523.50 billion worth of Japanese stocks in the previous week.
Chinese MNI business sentiment index recorded a rise in October
In China, the MNI business sentiment index climbed to 55.60 in October. In the previous month, the MNI business sentiment index had registered a level of 51.30.
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