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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK CPI climbed more than expected in July
In the UK, the consumer price index (CPI) recorded a rise of 1.00% on a YoY basis in July, compared to a rise of 0.60% in the prior month. Markets were expecting the CPI to record an advance of 0.60%.
UK retail price index advanced in July
In the UK, the retail price index increased 0.50% on a MoM basis in July, compared to a gain of 0.20% in the previous month. Markets were expecting the retail price index to record a rise of 0.10%.
Euro-zone CPI rose as expected in July
In the Euro-zone, the final CPI climbed 0.40% on a YoY basis in July, in line with expectations and compared to a rise of 0.30% in the previous month.
Euro-zone current account surplus widened in June
In the Euro-zone, the seasonally adjusted current account surplus widened to €20.70 billion in June, compared to a current account surplus of €11.30 billion in the previous month.
FOMC minutes: Fed to hold interest rate citing pandemic levels
Minutes of the US Fed July monetary policy meeting revealed that policymakers expect to hold the key interest rates to a range of 0%-0.25% until the economy had weathered recent events and was on track to achieve the Committee’s maximum employment and price stability goals. Further, the officials agreed that the ongoing public health crisis would weigh heavily on economic activity, employment and inflation in the near term and posed considerable risks to the economic outlook over the medium term.
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