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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE held interest rate at 0.25% but decision split amid rising inflation fears
The Bank of England’s (BoE) monetary policy committee voted 8-1 to keep the key interest rate unchanged at 0.25% and maintained asset purchases at £435.0 billion. The central bank expects a slowdown in Britain’s aggregate demand over the course of this year as household demand growth declines in reaction to lower real income growth. Further, minutes from the meeting indicated that policymakers could vote to raise borrowing costs at future meetings if they felt inflation was rising too quickly.
Euro-zone CPI rose as expected in February
On a monthly basis, the consumer price index (CPI) recorded a rise of 0.40% in the Euro-zone, in February, meeting market expectations. The CPI had dropped 0.80% in the prior month.
Euro-zone core CPI advanced as expected in February
The final core CPI in the Euro-zone registered a rise of 0.90% on an annual basis in February, at par with market expectations. The preliminary figures had also indicated a rise of 0.90%. The core CPI had registered a similar rise in the previous month.
Euro-zone new car registrations in EU 28 countries rose in February
New car registrations in the EU 28 countries registered a rise of 2.20% on an annual basis in the Euro-zone, in February. New car registrations in the EU 28 countries had registered a rise of 10.20% in the prior month.
Euro-zone CPI rose as expected in February
On a YoY basis, the final CPI in the Euro-zone rose 2.00% in February, compared to a rise of 1.80% in the prior month. Markets were expecting the CPI to climb 2.00%. The preliminary figures had also recorded an advance of 2.00%.
SNB retained negative interest rate
The Swiss National Bank (SNB) held the benchmark interest rate at -0.75% and reaffirmed its stance to remain active in the foreign exchange market to prevent the Swiss Franc from appreciating. Additionally, the central bank continues to expect GDP growth of roughly 1.5% for 2017.
US housing starts registered a rise in February
Housing starts in the US recorded a rise of 3.00%, on MoM basis, to an annual rate of 1288.00 K in February, higher than market expectations of 1264.00 K. In the previous month, housing starts had recorded a revised reading of 1251.00 K.
US building permits dropped in February
Building permits dropped 6.20%, on MoM basis, to an annual rate of 1213.00 K in the US, in February, compared to a revised level of 1293.00 K in the previous month. Market expectation was for building permits to drop to 1268.00 K.
US initial jobless claims dropped in the last week
In the week ended 11 March 2017, the seasonally adjusted initial jobless claims fell to a level of 241.00 K in the US, higher than market expectations of a fall to 240.00 K. Initial jobless claims had registered a level of 243.00 K in the previous week.
US continuing jobless claims declined in the last week
The seasonally adjusted continuing jobless claims in the US dropped to 2030.00 K in the week ended 04 March 2017, compared to a revised reading of 2060.00 K in the previous week. Markets were anticipating continuing jobless claims to fall to a level of 2050.00 K.
US Philadelphia Fed manufacturing index slid in March
In March, Philadelphia Fed manufacturing index in the US registered a drop to 32.80, compared to market expectations of a fall to 30.00. In the prior month, Philadelphia Fed manufacturing index had registered a level of 43.30.
US JOLTs job openings climbed in January
In January, JOLTs job openings registered a rise to 5626.00 K in the US, higher than market expectations of a rise to a level of 5556.00 K. JOLTs job openings had recorded a revised reading of 5539.00 K in the previous month.
Canadian investors remained net buyers of foreign securities in the previous month
Canadian investors were net buyers of C$8.60 billion worth of foreign securities in January, as compared to being net buyers of C$6.70 billion worth of foreign securities in the prior month.
Foreign investors became net buyers of Canadian securities in the previous month
Foreign investors were net buyers of C$6.20 billion worth of Canadian securities in January, as compared to being net buyers of a revised C$10.21 billion worth of Canadian securities in the prior month.
Japanese machine tool orders rose in February
On an annual basis, the final machine tool orders recorded a rise of 9.10% in February, in Japan. In the previous month, machine tool orders had climbed 3.50%. The preliminary figures had also recorded a rise of 9.10%.
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