Guardian Stockbrokers Key Economic News Friday 11 June 2021

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The key points from today’s economic news, brought to you by Guardian Stockbrokers.

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ECB raised economic growth forecast and inflation projection

The European Central Bank (ECB), in its latest monetary policy decision, kept its benchmark interest rate unchanged at 0.00%, as widely expected. Further, the central bank raised its economic growth forecast to 4.6% for 2021 and 4.7% for 2022. Also, it forecasted annual inflation to reach 1.9% this year and 1.5% in 2022. Additionally, the ECB has committed to purchasing €1.85 trillion of bonds until March 2022 as part of its Pandemic Emergency Purchase Program.

US CPI rose more than expected in May

In the US, the CPI climbed 5.00% on a YoY basis in May, compared to an advance of 4.20% in the previous month. Markets were expecting the CPI to record an advance of 4.70%.

US initial jobless claims fell less than market expectations in the week ended 04 June 2021

In the US, initial jobless claims fell to 376.00 K in the week ended 04 June 2021, compared to a level of 385.00 K in the prior month. Markets were expecting initial jobless claims to drop to 370.00 K.

US budget deficit narrowed in May

In the US, budget deficit narrowed to $132.00 billion in May, compared to a deficit of $226.00 billion in the previous month.

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