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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK CPI rose more than expected in January
In the UK, the consumer price index (CPI) advanced 0.70% on a YoY basis in January, compared to a rise of 0.60% in the previous month. Markets were expecting the CPI to record an advance of 0.50%.
UK retail price index fell less than expected in January
In the UK, the retail price index fell 0.30% on a MoM basis in January, compared to a rise of 0.60% in the previous month. Markets were expecting the index to record a drop of 0.40%.
UK house price index climbed in December
In the UK, the house price index advanced 8.50% on a YoY basis in December, compared to a revised rise of 7.10% in the prior month.
FOMC minutes: Fed would keep monetary policy loose well into the future
Minutes of the US Fed’s February monetary policy meeting revealed that policymakers reaffirmed that the central bank would keep its loose policy well into the future. Further the officials noted that economic conditions were currently far from their longer-run goals and that the stance for policy would need to remain unchanged until those goals were achieved.
US advance retail sales advanced more than expected in January
In the US, advance retail sales recorded a rise of 5.30% on a MoM basis in January, compared to a revised drop of 1.00% in the previous month. Markets were expecting advance retail sales to record an advance of 1.10%
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