Guardian Stockbrokers Key Economic News Friday 23 January 2021

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The key points from today’s economic news, brought to you by Guardian Stockbrokers.

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ECB kept its key interest rate unchanged

The ECB, in its latest monetary policy meeting, kept its benchmark interest rate steady at 0%, as widely expected. The central bank maintained its pandemic emergency purchase programme (PEPP) at €1.85 trillion. Meanwhile, ECB President, Christine Lagarde, stated that the rollout of Covid vaccinations across the Euro-zone is an important milestone in the resolution of the ongoing health crisis. However, the coronavirus pandemic still poses “serious risks” to the economy.

Euro-zone consumer confidence index dropped more than expected in January

In the Euro-zone, the preliminary consumer confidence index registered a drop to -15.50 in January, compared to a revised level of -13.80 in the prior month. Market anticipations were for the index to ease to -15.00.

US building permits advanced in December

In the US, building permits climbed 4.50% on a MoM basis in December, compared to a revised advance of 5.90% in the previous month.

US housing starts rose in December

In the US, housing starts registered a rise of 5.80% on a MoM basis in December, compared to a revised rise of 3.10% in the prior month.

US number of initial jobless claims fell in the week ended 15 January 2021

In the US, the seasonally adjusted number of initial jobless claims dropped to a level of 900.00 K in the week ended 15 January 2021, compared to a revised reading of 926.00 K in the prior week. Markets were expecting the initial jobless claims to record a drop to a level of 910.00 K.

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