The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE kept its key interest rate unchanged
The BoE’s Monetary Policy Committee (MPC) unanimously agreed to keep its benchmark interest rate unchanged at 0.75% and its asset purchase facility at £435.0 billion, as widely expected. However, the central bank stated that a further interest rate hike will be needed to keep inflation in check. In its quarterly inflation report, the BoE raised its growth forecast for the British economy to 1.50% for this year, from its prior estimate of 1.20%.
Euro-zone manufacturing PMI climbed in April
The final manufacturing PMI in the Euro-zone registered a rise to a level of 47.90 in April, compared to a reading of 47.50 in the previous month. Market anticipation was for the index to advance to a level of 47.80.
German manufacturing PMI rose in April
The final manufacturing PMI in Germany climbed to a level of 44.40 in April, compared to market expectations of an advance to a reading of 44.50. In the previous month, the index had registered a level of 44.10.
US factory orders advanced more than expected in March
Factory orders in the US rose 1.90% on a monthly basis in March, higher than market expectations for a rise of 1.60%. Factory orders had recorded a revised drop of 0.30% in the previous month.
US durable goods orders rose in March
The final durable goods orders in the US recorded a rise of 2.60% on a monthly basis, in March. Durable goods orders had fallen by a revised 1.10% in the previous month.
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