The key points from today’s economic news, brought to you by Guardian Stockbrokers.
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UK Halifax house price index climbed more than expected in February
In the UK, the Halifax house price index rose 1.10% in February, compared to a revised rise of 0.20% in the prior month. Markets were expecting the index to rise 0.40%.
German factory orders unexpectedly rose in January
In Germany, factory orders unexpectedly advanced 1.00% in February, compared to a revised rise of 3.40% in the previous month.
US Fed’s Chairman Powell indicated significant interest rate hikes
The US Federal Reserve (Fed) Chairman Jerome Powell, in his testimony, indicated that the interest rates are likely to rise more than policymakers had expected in order to curb inflation.
US consumer credit advanced less than expected in January
In the US, consumer credit rose to $14.80 billion in January, compared to a level of $11.56 billion in the prior month. Market expectations were for consumer credit to rise $20.00 billion.
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