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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE kept rates unchanged and blames declining Pound on Brexit fears
The BoE’s monetary policy committee unanimously voted to keep its base interest rate at its historic low of 0.50% and its quantitative easing asset purchase scheme on hold at £375.0 billion. The minutes of the central bank’s March meeting showed that there was growing uncertainty surrounding the forthcoming referendum on UK membership of the European Union. Policymakers warned that this uncertainty has weighed on Sterling and might also delay some spending decisions and depress growth in aggregate demand in the near term.
Euro-zone trade surplus dropped in January
The seasonally adjusted trade surplus in the Euro-zone fell to €21.20 billion in January, compared to a revised trade surplus of €22.50 billion in the previous month. Market anticipation was for the region’s a trade surplus to drop to €19.50 billion.
Euro-zone trade surplus dropped in January
The non-seasonally adjusted trade surplus in the Euro-zone fell to €6.20 billion in January, following a trade surplus of €24.30 billion in the previous month. Market expectation was for the region to register a trade surplus of €10.00 billion.
Euro-zone CPI rose more than expected in February
On a MoM basis, the consumer price index (CPI) rose 0.20% in the Euro-zone, in February, compared to a drop of 1.40% in the prior month. Market anticipation was for the consumer price index to rise 0.10%.
Italian global trade surplus fell in January
Italy has registered global trade surplus of €0.04 billion in January, compared to a revised global trade surplus of €6.00 billion in the prior month.
Italian trade surplus widened in January
In January, (EU countries) trade surplus in Italy expanded to €0.52 billion. Italy had posted a revised trade surplus of €0.08 billion in the previous month.
Swiss producer and import price index fell more than expected in February
The producer and import price index fell 4.60% on a YoY basis in February, in Switzerland, more than market expectations for a fall of 3.90%. In the prior month, the producer and import price index had recorded a drop of 5.30%.
Swiss producer and import price index registered an unexpected drop in February
In February, on a monthly basis, the producer and import price index in Switzerland registered an unexpected drop of 0.60%, less than market expectations for a rise of 0.10%. In the previous month, the producer and import price index had registered a drop of 0.40%.
Swiss National Bank held its key interest rate steady
The Swiss National Bank held its key interest rate steady at -0.75%, meeting market expectations.
US JOLTs job openings climbed in January
In the US, JOLTs job openings recorded a rise to 5541.00 K in January, compared to a revised reading of 5281.00 K in the prior month. Market expectation was for JOLTs job openings to climb to a level of 5500.00 K.
US initial jobless claims advanced in the last week
The seasonally adjusted initial jobless claims in the US advanced to 265.00 K in the week ended 12 March 2016, lower than market expectations of an advance to 268.00 K. In the prior week, initial jobless claims had recorded a revised level of 258.00 K.
US current account deficit declined in 4Q 2015
Current account deficit in the US dropped to $125.30 billion in 4Q 2015, following a revised current account deficit of $129.90 billion in the prior quarter. Markets were anticipating the nation to register a current account deficit of $118.00 billion.
US continuing jobless claims advanced in the last week
The seasonally adjusted continuing jobless claims registered a rise to 2235.00 K in the week ended 05 March 2016, in the US, meeting market expectations. In the prior week, continuing jobless claims had recorded a revised reading of 2227.00 K.
US leading indicator advanced less than expected in February
Leading indicator in the US recorded a rise of 0.10% in February on a MoM basis, less than market expectations for an advance of 0.20%. Leading indicator had registered a drop of 0.20% in the previous month.
US Philadelphia Fed manufacturing index rose in March
In March, Philadelphia Fed manufacturing index registered a rise to 12.40 in the US, compared to a level of -2.80 in the prior month. Market anticipation was for Philadelphia Fed manufacturing index to advance to -1.50.
Canadian wholesale sales remained steady in January
In January, wholesale sales remained steady in Canada, on a MoM basis, lower than market expectations for a rise of 0.30%. Wholesale sales had registered a revised rise of 1.80% in the prior month.
Chinese house price index advanced more than expected in February
In February, on an annual basis, the house price index advanced 3.60% in China, higher than market expectations for an advance of 2.50%. In the prior month, the house price index had climbed 2.50%.
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