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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE warned over no-deal Brexit scenario
The Bank of England’s (BoE) Financial Policy Committee minutes hinted that the British Pound could deteriorate significantly if the nation left the European Union without a new trade deal. Meanwhile, the policymakers warned that the new lending to already debt-burdened borrowers has matched to the subprime mortgage boom that had led to global financial crisis.
UK CPI advanced less than expected in September
In the UK, the consumer price index (CPI) climbed 0.10% on a MoM basis in September, compared to an advance of 0.70% in the previous month. Markets were anticipating the CPI to rise 0.30%.
Euro-zone CPI rose as expected in September
In the Euro-zone, the CPI rose 0.50% on a MoM basis in September, at par with market expectations. In the prior month, the CPI had risen 0.20%.
Fed minutes: Officials on track to raise interest rates in future
Minutes of the Fed’s September meeting indicated that the policymakers shrugged off criticism from the US President, Donald Trump, on its interest rate hikes and stated that the central bank is on track to continue raising the benchmark interest rates this year until policy becomes restrictive.
BoJ Kuroda provided upbeat view on economy
Bank of Japan (BoJ) Governor, Haruhiko Kuroda, stated that the economy is likely to continue expanding at a moderate pace. Further, he added that the consumer inflation was moving around 1.0% and the central bank would make necessary policy adjustments for sustaining the economy’s momentum to achieve the price target.
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