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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
ECB Bulletin: Global uncertainties continue to affect the region’s economy
The European Central Bank (ECB), in its latest economic bulletin, highlighted that the Euro-zone’s growth outlook remained affected in the second and third quarter of 2019, amid persistent uncertainties surrounding global growth and international trade. The central bank reiterated its concerns relating to the region’s inflation, that remains below its target range.
US initial jobless claims fell in the last week
In the US, the seasonally adjusted initial jobless claims eased to a level of 209.00 K in the week ended 03 August 2019, lower than market expectations of a drop to a level of 215.00 K. In the previous week, initial jobless claims had recorded a revised reading of 217.00 K.
Japanese annualised GDP rose more than expected in 2Q 2019
In Japan, the flash annualised GDP recorded a rise of 1.80% on a QoQ basis in 2Q 2019, compared to an advance of 2.20% in the previous quarter. Markets were anticipating annualised GDP to climb 0.50%.
Chinese CPI advanced more than expected in July
In China, the consumer price index (CPI) rose 2.80% on an annual basis in July, compared to a rise of 2.70% in the previous month. Markets were anticipating the CPI to rise 2.70%.
RBA likely to keep interest rates on hold, indicates RBA Governor
The Reserve Bank of Australia (RBA) Governor, Philip Lowe, stated that the central bank has slightly reduced its growth forecast and endorsed abandoning caps on public sector wages as part of a suite of non-monetary policy measures to stimulate the economy. He further added that the central bank is prepared to do unconventional things if circumstances warranted.
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