Guardian Stockbrokers Key Economic News Friday 3 February 2023

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


Bank of England raised the interest rate

The Bank of England (BoE), in its January monetary policy meeting, raised its benchmark interest rate by 0.5% to 4.0% and forecasted a shallower recession this year than previously estimated.

European Central Bank lifted its benchmark interest rate

The European Central Bank (ECB), in its January monetary policy meeting, lifted its benchmark interest rate by 0.5% and signaled that it would raise rates again in March.

German trade surplus narrowed less than expected in December

In Germany, trade surplus narrowed to €10.00 billion in December, compared to a revised surplus of €10.90 billion in the prior month. Markets were expecting trade surplus to narrow to €9.20 billion.

US initial jobless claims unexpectedly declined in the week ended 27 January 2023

In the US, initial jobless claims unexpectedly dropped to 183.00 K in the week ended 27 January 2023, compared to a level 186.00 K in the previous month.

US factory orders climbed less than anticipated in December

In the US, factory orders rose 1.80% on a MoM basis in December, compared to a revised fall of 1.90% in the prior month. Market anticipations were for factory orders to rise 2.20%.

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