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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK house price balance advanced surprisingly in June
In the UK, house price balance unexpectedly advanced to 2.00% in June, compared to market expectations of a fall to 4.00%. House price balance had registered a revised level of 2.00% in the previous month.
US mortgage applications rose in the last week
The mortgage applications in the US recorded a rise of 2.50% in the week ended 06 July 2018 on a weekly basis. The mortgage applications had dropped 0.50% in the previous week.
US PPI advanced more than expected in June
In the US, the producer price index (PPI) advanced 0.30% on a monthly basis, in June, compared to a rise of 0.50% in the previous month. Markets were anticipating the PPI index to climb 0.20%.
US wholesale inventories advanced more than expected in May
On a MoM basis in May, the seasonally adjusted final wholesale inventories recorded a rise of 0.60% in the US, more than market expectations for an advance of 0.50%. In the prior month, the wholesale inventories had advanced 0.10%.
BoC raised its key interest rate
The Bank of Canada (BoC) hiked its key interest rate by 25 basis points to 1.50%. Markets were expecting the central bank to increase its key interest rate to 1.50%.
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