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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE kept its key interest rate steady
The Bank of England (BoE), at its December monetary policy meeting, opted to keep the benchmark interest rate steady at 0.75% and its asset purchase facility at £435.0 billion. However, the central bank lowered the nation’s economic growth for the final quarter of 2018 to 0.2% from 0.3%, amid rising uncertainties over Brexit and worries regarding the prospects of the world economy.
UK retail sales rose more than expected in November
On a MoM basis, retail sales in the UK recorded a rise of 1.40% in November, compared to a revised fall of 0.40% in the prior month. Markets were expecting retail sales to advance 0.30%.
UK consumer confidence fell in December
The UK consumer confidence index dropped to a level of -14.00 in December, meeting market expectations. The index had registered a level of -13.00 in the prior month.
US leading indicator surprisingly rose in November
In the US, leading indicator registered an unexpected rise of 0.20% on a MoM basis, in November, compared to a revised drop of 0.30% in the previous month. Market expectation was for leading indicator to record a flat reading.
US initial jobless claims climbed in the last week
In the US, the seasonally adjusted initial jobless claims registered a rise to a level of 214.00 K in the week ended 15 December 2018, lower than market expectations of an advance to a reading of 215.00 K. Initial jobless claims had recorded a reading of 206.00 K in the previous week.
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