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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE held rates, set the stage for interest rate hike in ‘coming months’
The Bank of England’s (BoE) Monetary Policy Committee (MPC) voted 7-2 to keep interest rates on hold at 0.25% and its asset purchase facility at £435.00 billion, as widely expected. However, the central bank suggested in its meeting minutes that “some withdrawal of monetary stimulus is likely to be appropriate over the coming months, to cool surging inflation and as British economic growth shows signs of picking up. The Monetary Policy Committee (MPC) stated that there was a “slightly stronger picture” for the economy since its forecasts last month, thanks to signs of a firmer housing market, stronger employment and a rebound in retail and new car sales.
Euro-zone new car registrations in EU 28 countries climbed in August
In August, on a YoY basis, new car registrations in the EU 28 countries in the Euro-zone registered a rise of 5.60%. In the previous month, new car registrations in the EU 28 countries had advanced 2.10%.
French CPI (ex-tobacco) advanced as expected in August
In August, on a MoM basis, the final consumer price index (CPI) (ex-tobacco) in France climbed 0.50%, compared to a drop of 0.30% in the previous month. Markets were expecting the CPI (ex-tobacco) to rise 0.50%. The preliminary figures had also indicated an advance of 0.50%.
French EU normalised CPI rose as expected in August
In August, the final EU normalised CPI in France registered a rise of 0.60% on a MoM basis, meeting market expectations. EU normalised CPI had registered a drop of 0.40% in the prior month. The preliminary figures had also indicated an advance of 0.60%.
French CPI (ex-tobacco) rose as expected in August
On a YoY basis, in France, the final CPI (ex-tobacco) registered a rise of 0.90% in August, meeting market expectations. In the previous month, the CPI (ex-tobacco) had registered a rise of 0.70%. The preliminary figures had also recorded an advance of 0.90%.
Italian CPI advanced as expected in August
The final CPI registered a rise of 0.30% on a MoM basis in August, in Italy, in line with market expectations. The preliminary figures had also indicated an advance of 0.30%. In the previous month, the CPI had advanced 0.10%.
Italian CPI rose as expected in August
In August, on an annual basis, the final CPI in Italy rose 1.20%, compared to a rise of 1.10% in the prior month. Market anticipation was for the CPI to climb 1.20%. The preliminary figures had also recorded a rise of 1.20%.
Italian EU normalised CPI advanced as expected in August
The final EU normalised CPI recorded a rise of 0.10% in Italy on a monthly basis in August, compared to a fall of 1.90% in the prior month. The preliminary figures had also indicated an advance of 0.10%. Market anticipation was for the EU normalised CPI to advance 0.10%.
Italian EU normalised CPI advanced as expected in August
In August, the final EU normalised CPI climbed 1.40% in Italy on a YoY basis, in line with market expectations. The preliminary figures had also recorded a rise of 1.40%. The EU normalised CPI had risen 1.20% in the previous month.
SNB left interest rates on hold
The Swiss National Bank (SNB) retained the benchmark interest rate at -0.75% and softened its tone on the strength of the Swiss Franc. However, the central bank reiterated its commitment to “intervene in the foreign exchange market as necessary”.
US CPI advanced in August
In August, the non-seasonally adjusted CPI climbed to 245.52 in the US, compared to a level of 244.79 in the previous month. Market expectation was for the CPI to advance to a level of 245.35.
US core CPI rose in August
In August, the seasonally adjusted core CPI climbed to 252.54 in the US, higher than market expectations of an advance to 252.34. In the previous month, the core CPI had registered a level of 251.91.
US CPI rose more than expected in August
On a YoY basis, the CPI rose 1.90% in August, in the US, higher than market expectations for an advance of 1.80%. In the previous month, the CPI had advanced 1.70%.
US CPI advanced more than expected in August
On a MoM basis, in August, the CPI advanced 0.40% in the US, higher than market expectations for an advance of 0.30%. The CPI had advanced 0.10% in the prior month.
US CPI (ex-food & energy) advanced as expected in August
On a monthly basis in August, the CPI (ex-food & energy) rose 0.20% in the US, at par with market expectations. The CPI (ex-food & energy) had advanced 0.10% in the prior month.
US CPI (ex-food & energy) advanced more than expected in August
In August, the CPI (ex-food & energy) rose 1.70% on an annual basis in the US, higher than market expectations for a rise of 1.60%. In the previous month, the CPI (ex-food & energy) had registered a similar rise.
US continuing jobless claims surprisingly slid in the last week
The seasonally adjusted continuing jobless claims recorded an unexpected drop to 1944.00 K in the US, in the week ended 02 September 2017, lower than market expectations of a rise to 1965.00 K. Continuing jobless claims had recorded a revised level of 1951.00 K in the previous week.
US CPI rose in August
On a MoM basis, the non-seasonally adjusted CPI rose 0.30% in the US, in August. In the prior month, CPI had dropped 0.10%.
US initial jobless claims surprisingly dropped in the last week
In the week ended 09 September 2017, the seasonally adjusted initial jobless claims dropped unexpectedly to 284.00 K in the US, compared to market expectations of an advance to a level of 300.00 K. Initial jobless claims had registered a reading of 298.00 K in the prior week.
Canadian new housing price index rose as expected in July
In July, on a monthly basis, the new housing price index recorded a rise of 0.40% in Canada, meeting market expectations. In the previous month, the new housing price index had recorded a rise of 0.20%.
Canadian new housing price index rose in July
The new housing price index registered a rise of 3.80% on an annual basis, in July, in Canada. The new housing price index had registered a rise of 3.90% in the previous month.
Japanese industrial production rose in July
On a YoY basis, the final industrial production registered a rise of 4.70% in Japan, in July. Industrial production had registered a rise of 5.50% in the previous month. The preliminary figures had also indicated an advance of 4.70%.
Japanese capacity utilisation fell in July
In July, on a MoM basis, capacity utilisation slid 1.80% in Japan. Capacity utilisation had recorded a rise of 2.10% in the previous month.
Japanese industrial production declined in July
The final industrial production fell 0.80% on a MoM basis in Japan, in July. Industrial production had registered a rise of 2.20% in the previous month. The preliminary figures had also indicated a fall of 0.80%.
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