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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE Governor hints at interest rate hike
The Bank of England Governor, Mark Carney, stated that gradual and limited rise in the interest rates will be needed, if the economy grows as expected and country leaves the European Union smoothly.
ECB maintains its key interest rate
The ECB, in its June monetary policy meeting, left its benchmark interest rate unchanged at 0.00%. Further, the central bank stated that it expects the rates to remain at their present levels at least through the first half of 2020 and will keep borrowing costs at ultra-low level until needed. Meanwhile, the central bank raised its growth forecast for 2019 to 1.2% from 1.1% and inflation outlook for this year to 1.3% from 1.2%. However, the central bank reduced growth projections for 2020 to 1.4% from 1.6% and for 2021 to 1.4% from 1.5%.
Euro-zone GDP advanced as expected in 1Q 2019
In the Euro-zone, the seasonally adjusted final gross domestic product (GDP) climbed 0.40% on a QoQ basis in 1Q 2019, at par with market expectations. In the prior quarter, GDP had climbed 0.20%.
US trade deficit dropped in April
In the US, trade deficit narrowed to $50.80 billion in April, from a revised trade deficit of $51.90 billion in the previous month. Market anticipation was for the nation to register a trade deficit of $50.70 billion.
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