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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Fed keeps key interest rate steady
The US Fed, in its latest monetary policy meeting, kept its benchmark interest rates unchanged at 0.25% and reiterated that it expects rates to remain at near-zero levels. Additionally, the central bank upgraded its assessment of the US economy. However, the Fed warned that inflationary pressures could rise in the coming months.
Germany’s consumer confidence index unexpectedly dropped in May
In Germany, the consumer confidence index unexpectedly declined to -8.80 in May, compared to a revised level of -6.10 in the previous month. Market expectations were for the index to rise to -3.50.
US advance goods trade deficit widened in March
In the US, advance goods trade deficit widened to $90.60 billion in March, compared to a deficit of $87.10 billion in the prior month.
US mortgage applications dropped in the week ended 23 April 2021
In the US, the number of mortgage applications registered a drop of 2.50% on a weekly basis in the week ended 23 April 2021, compared to a jump of 8.60% in the prior week.
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