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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Mario Draghi hints at monetary policy easing
The European Central Bank (ECB) President Mario Draghi signalled that the central bank could cut interest rates or provide further assets purchases, if inflation doesn’t reach its targets. Moreover, he stated that the central bank could announce further stimulus, if the economic situation deteriorates in the coming months.
Euro-zone CPI rose as expected in May
In the Euro-zone, the final consumer price index (CPI) registered a rise of 1.20% on a YoY basis In May, meeting market expectations. The CPI had advanced 1.70% in the prior month.
Euro-zone trade surplus dropped in April
In the Euro-zone, the seasonally adjusted trade surplus narrowed to €15.30 billion in April, compared to market expectations of a trade surplus of €17.00 billion. The Euro-zone had posted a revised trade surplus of €18.60 billion in the prior month.
US housing starts dropped in May
In the US, housing starts eased 0.90%, on MoM basis in May, to an annual rate of 1269.00 K, compared to a revised level of 1281.00 K in the previous month. Market expectation was for housing starts to fall to a level of 1239.00 K.
US building permits rose in May
In the US, that building permits rose 0.30%, on MoM basis in May, to an annual rate of 1294.00 K, compared to market expectations of 1292.00 K. Building permits had registered a revised level of 1290.00 K in the prior month.
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