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BoE raised its key interest rate
The Bank of England (BoE) hiked its key interest rate by 25 basis points to 0.75% at its recent policy meeting, as widely expected. Meanwhile, the BoE Governor, Mark Carney, stated that the policy needed to “walk not run” and expressed concern over Brexit.
UK construction PMI surprisingly climbed in July
The UK construction PMI registered an unexpected rise to a level of 55.80 in July, compared to a level of 53.10 in the previous month. Market expectation was for the index to ease to a level of 52.80.
US factory orders advanced as expected in June
In the US, factory orders climbed 0.70% on a monthly basis in June, at par with market expectations. Factory orders had climbed 0.40% in the previous month.
US durable goods orders rose in June
On a monthly basis, the US final durable goods orders advanced 0.80% in June. In the previous month, durable goods orders had registered a drop of 0.40%. The preliminary figure had recorded a rise of 1.00%.
BoJ Meeting Minutes: Economy widened at a moderate pace
The Bank of Japan (BoJ), in its June meeting minutes, stated that the nation’s economy continued to expand at a moderate pace and expects to continue with same pace. Meanwhile, the minutes showed that the policymakers likely deliberated ways to make its massive stimulus programme more sustainable as long ago as June.
