The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE kept its key interest rate unchanged
The Bank of England (BoE), at its June monetary policy meeting, kept its benchmark interest rate unchanged at 0.75% and its asset purchase facility at £435.0 billion, as widely expected. Further, the central bank lowered its growth forecast for the British economy for the second quarter to zero from 0.2%, amid uncertainties over Brexit as well as global trade risks.
UK retail sales declined as expected in May
In the UK, retail sales fell 0.50% on a MoM basis in May, compared to a revised fall of 0.10% in the previous month. Market anticipation was for retail sales to drop 0.50%.
ECB Bulletin: Global headwinds continue to weigh on the region’s economy
The European Central Bank (ECB), in its latest economic bulletin, highlighted that global headwinds continue to weigh on the region’s economic outlook. Further, the bulletin indicated that underlying growth momentum within the Euro-zone has continued to soften since the start of the year, highlighting current signs of a gradual slowing in economic growth.
Euro-zone consumer confidence index surprisingly dropped in June
In the Euro-zone, the preliminary consumer confidence index fell unexpectedly to a level of -7.20 in June, higher than market expectations of an unchanged reading. In the previous month, the consumer confidence index had recorded a level of -6.50.
US initial jobless claims eased in the last week
In the US, the seasonally adjusted initial jobless claims dropped to a level of 216.00 K in the week ended 15 June 2019, compared to market expectations of a fall to a level of 220.00 K. Initial jobless claims had recorded a reading of 222.00 K in the previous week.
Click here to sign up for the in depth Guardian Stockbrokers Market Daily report.