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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK CPI advanced less than expected in March
On a YoY basis, in March, the consumer price index (CPI) climbed 2.50% in the UK, compared to a rise of 2.70% in the prior month. Markets were expecting the CPI to rise 2.70%.
Euro-zone CPI advanced less than expected in March
On a YoY basis, the final CPI recorded a rise of 1.30% in the Eurozone, in March, lower than market expectations for an advance of 1.40%. The preliminary figures had indicated a rise of 1.40%.
Euro-zone construction output declined in February
In the Eurozone, the seasonally adjusted construction output dropped 0.50% in February on a MoM basis. Construction output had registered a revised drop of 0.80% in the previous month.
Fed’s Beige Book: US economy on moderate growth track, businesses remained concerned over newly imposed US trade tariffs
According to the Federal Reserve’s (Fed) Beige Book report, economic activity in the US expanded at a ‘modest to moderate’ pace in March and early April. However, businesses expressed concerns over widening global trade disputes and newly introduced trade tariffs. Further, firms reported solid business borrowing, continued robust job growth as well as rising consumer spending in the US economy.
BoC stood pat on interest rate, remained “cautious” over future rate hikes
The Bank of Canada (BoC), at its April monetary policy meeting, decided to keep the key interest rate unchanged at 1.25%, citing an economic slowdown early this year. Further, the central bank reiterated its view that further interest-rate hikes will be warranted over time as officials expect the economy to rebound but added that it will follow a cautious approach when weighing future decisions. Moreover, the central bank downgraded its 2018 economic growth forecast to 2.00% from 2.20% due to the weaker than expected start to the year. Nevertheless, growth in 2019 is estimated to be 2.10%, before easing to 1.80% in 2020.
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