The key points from today’s economic news, brought to you by Guardian Stockbrokers.
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UK CPI advanced more than expected in February
In the UK, the CPI climbed 0.50% on a monthly basis in February, more than market expectations for a rise of 0.40%. In the prior month, the consumer price index had recorded a drop of 0.80%.
UK house price index rose less than expected in February
In February, the house price index climbed 1.70% in the UK, on an annual basis, lower than market expectations for a rise of 2.40%. The house price index had risen by a revised 2.20% in the prior month.
Fed keeps interest rate steady, expects no rate hike in 2019
The US Fed, in its latest monetary policy meeting, held its benchmark interest rates unchanged at a range of 2.25%-2.50%. Meanwhile, the central bank stated that it will not raise interest rate in 2019, citing lower consumer spending and global uncertainties. Also, it unveiled a programme to stop its balance sheet reduction in September.
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