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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone CPI rose as expected in February
In the Euro-zone, the final consumer price index (CPI) recorded a rise of 0.90% on a YoY basis in February, at par with market expectations and compared to a rise of 0.90% in the prior month.
Euro-zone construction output climbed in January
In the Euro-zone, the seasonally adjusted construction output rose 0.80% on a MoM basis in January, compared to a revised drop of 1.50% in the previous month.
Fed kept its key interest rate unchanged
The US Fed, in its latest monetary policy meeting, kept its benchmark interest rate unchanged at near zero and pledged to keep the rates steady through 2023. Also, the central bank decided to continue its asset purchase program in which it buys at least $120.0 billion of bonds a month. Further, the Federal Open Market Committee announced that it expects the US economy to grow 6.5% in 2021, 3.3% in 2022 and 2.2% in 2023 and unemployment rate to fall to 4.5% from 6.2%. Moreover, core inflation is expected to rise to 2.2% this year and fall to 2.0% in 2022.
US housing starts dropped in February
In the US, housing starts slid 10.30% on a MoM basis in February, compared to a revised fall of 5.10% in the prior month.
US building permits dropped in February
In the US, building permits declined 10.80% on a MoM basis in February, compared to a revised rise of 10.70% in the prior month.
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