Hot Features
Premium
Trade smarter, not harder: Unleash your inner pro with our toolkit and live discussions.
The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE warns of post-Brexit scenarios
The BoE, in its half-yearly Financial Stability Report, signalled that a disorderly Brexit could lead to a savage recession. Meanwhile, the central bank indicated that a no-deal Brexit scenario could result in the nation’s economic growth falling to 8.0% within a year, while the Pound is likely to decline 25.0% against the US Dollar. However, the BoE’s comprehensive set of tests revealed that the UK banking system would survive even the worst of Brexit.
Fed Chairman indicates that interest rates are just below range of neutral estimate
The US Fed Chairman, Jerome Powell, stated that the central bank’s benchmark interest rates appear to be “just below” neutral estimates that neither impede nor stimulate healthy economic growth. Also, he recommended that a pause in the interest rate hikes next year might help in assessing the impact of the Fed’s credit tightening policy.
US new home sales fell in October
The US new home sales registered a drop of 8.90%, on MoM basis, to a level of 544.00 K in October, compared to a revised level of 597.00 K in the previous month. Markets were expecting new home sales to ease to a reading of 575.00 K.
US annualised GDP rose as expected in 3Q 2018
In the US, the second estimate of annualised gross domestic product advanced 3.50% on a QoQ basis, in 3Q 2018, compared to a rise of 4.20% in the prior quarter. Markets were expecting the annualised GDP to climb 3.50%.
US advance goods trade deficit widened in October
The US has registered advance goods trade deficit of $77.20 billion in October, from a revised deficit of $76.30 billion in the prior month. Markets were expecting a deficit of $77.00 billion.
Click here to sign up for the in depth Guardian Stockbrokers Market Daily report.
