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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK house price index advanced in April
The house price index registered a rise of 3.90% in the UK on a YoY basis, in April. The house price index had climbed 4.20% in the previous month.
UK CPI advanced as expected in May
The consumer price index (CPI) in the UK advanced 2.40% on a YoY basis in May, in line with market expectations. In the prior month, the CPI had registered a similar rise.
Euro-zone industrial production declined more than expected in April
The seasonally adjusted industrial production in the Euro-zone eased 0.90% on a monthly basis in April, compared to a revised rise of 0.60% in the prior month. Markets were expecting industrial production to drop 0.70%.
US Fed raised its interest rates, signalled two more rate hikes in 2018
The US Federal Reserve (Fed), at its June monetary policy meeting, unanimously decided to lift the target for the central bank’s benchmark rate to 1.75% to 2.00%, to its highest level since 2008, meeting market expectations and projected a slightly faster pace of rate hikes this year.
US mortgage applications fell in the last week
On a weekly basis, mortgage applications in the US recorded a drop of 1.50% in the week ended 08 June 2018. In the prior week, mortgage applications had registered a rise of 4.10%.
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