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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
ECB’s Draghi cautious over region’s banking sector
ECB President, Mario Draghi, stated that the government should take further necessary actions for pumping up the Euro-zone’s banking sector to enhance lending and increase profitability for attracting more suitors.
US housing market index remained unchanged in September
In the US, the NAHB housing market index remained steady at a level of 67.00 in September. Markets were anticipating the index to ease to a level of 66.00.
BoJ maintained monetary policy steady
The Bank of Japan (BoJ), at its September monetary policy meeting, left the benchmark interest rate steady at -0.10% and held the yield target for 10-year Japanese government bonds around 0.00%. Also, the central bank kept its new forward guidance unchanged, hinting at keeping interest rates extremely low for an extended period. Meanwhile, BoJ indicated that Japanese economy continued to expand at a moderate pace.
Japanese total merchandise trade deficit expanded in August
Japan has reported total merchandise trade deficit of ¥444.60 billion in August, compared to a deficit of ¥231.20 billion in the prior month. Market anticipation was for the nation to record a deficit of ¥483.20 billion.
Japanese exports advanced more than expected in August
On a YoY basis, exports in Japan recorded a rise of 6.60% in August, more than market expectations for an advance of 5.20%. Exports had advanced 3.90% in the previous month.
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