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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK public sector net borrowing reported a deficit in April
In the UK, the public sector net borrowing has posted a deficit of £5.00 billion in April, following a revised surplus of £1.00 billion in the previous month. Market anticipation was for public sector net borrowing to post a deficit of £5.10 billion.
UK CPI rose less than expected in April
The consumer price index (CPI) in the UK advanced 0.60% on a MoM basis in April, compared to an advance of 0.20% in the prior month. Markets were expecting the CPI to advance 0.70%.
UK house price index advanced in April
In the UK, the house price index climbed 1.40% on an annual basis, in April. In the previous month, the index had recorded a revised rise of 1.00%.
UK retail price index climbed in April
The UK retail price index recorded a rise of 1.10%, on MoM basis, to a level of 288.20 in April, higher than market expectations of 287.60. In the previous month, the index had registered a level of 285.10.
Fed minutes hints patience on interest rate moves for some time
Minutes of the Federal Reserve’s (Fed) May meeting indicated that the policymakers had a patient approach towards determining future adjustments to the target range for the federal funds. Moreover, the officials noted that economic prospects for the US and global economy were improving, while the nation’s inflation had fallen far below its 2.0% target.
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