The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK net consumer credit rose less than expected in December
In the UK, net consumer credit climbed £0.70 billion in December, less than market expectations for a rise of £0.80 billion. In the previous month, net consumer credit had recorded a rise of £0.90 billion.
German CPI dropped as expected in January
On a monthly basis, in Germany, the preliminary consumer price index (CPI) fell 0.80% in January, in line with market expectations. In the previous month, the CPI had registered a rise of 0.10%.
Private sector employment in the US increased in January
In the US, the private sector employment advanced by 213.00 K in January, compared to market expectations of an advance of 181.00 K. The private sector employment had registered a revised increase of 263.00 K in the prior month.
US pending home sales unexpectedly fell in December
Pending home sales in the US unexpectedly fell 2.20% on a monthly basis, in December, lower than market expectations for a rise of 0.50%. In the previous month, pending home sales had fallen by a revised 0.90%.
Fed held its key interest rate steady, pledged patient approach
The US Fed, at its January monetary policy meeting, unanimously decided to keep the benchmark interest rate unchanged at a target range of 2.25% to 2.50%, meeting market expectations. Further, the central bank pledged that future interest rate hikes will be done patiently and stated that the plan of shrinking its balance sheet would depend on the nation’s economic and financial developments.
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