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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
ECB minutes: Interest rates to remain steady as long as needed
The European Central Bank (ECB), in its latest policy minutes, revealed that the policymakers unanimously agreed on need for retaining ample monetary policy stimulus to support inflation in the region. Moreover, the central bank hinted of unchanged interest rates until mid2019.
Euro-zone industrial production rose more than expected in May
On a MoM basis, the seasonally adjusted industrial production in the Euro-zone advanced 1.30% in May, compared to a revised fall of 0.80% in the previous month. Market anticipation was for industrial production to rise 1.20%.
German CPI rose as expected in June
The final consumer price index (CPI) in Germany advanced 0.10% on a MoM basis in June, meeting market expectations. In the prior month, the CPI had risen 0.50%. The preliminary figure had also recorded a rise of 0.10%.
US budget deficit narrowed in June
In the US, budget deficit fell to $74.90 billion in June, from a deficit of $146.80 billion in the previous month. Markets were expecting the country’s deficit to narrow to $80.00 billion.
US CPI rose less than expected in June
In the US, the consumer price index (CPI) rose 0.10% in June, on a monthly basis, less than market expectations for an advance of 0.20%. In the previous month, the CPI had registered a rise of 0.20%.
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