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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE raises key interest rate by 50 basis points
The BoE, in its September monetary policy meeting, lifted its benchmark interest rate by 0.50% to 2.25%, its highest level since December 2008. Further, the central bank confirmed plans to sell more of the £895 billion of bonds bought during the quantitative-easing program.
UK GfK consumer confidence index unexpectedly declined in September
In the UK, the GfK consumer confidence index unexpectedly fell to a level of -49.00 in September, compared to a reading of -44.00 in the previous month. Markets were expecting the index to rise to -42.00.
Euro-zone consumer confidence index dropped more than expected in September
In the Euro-zone, the consumer confidence index fell to a level of -28.80 in September, compared to a revised reading of -25.00 in the prior month. Markets were expecting the index to fall to 25.80.
US initial jobless claims advanced less than anticipated in the week ended 16 September 2022
In the US, initial jobless claims climbed to 213.00 K in the week ended 16 September 2022, compared to a revised reading of 208.00 K in the previous week. Markets were anticipating initial jobless claims to rise to 218.00 K.
US current account deficit narrowed more than expected in 2Q 2022
In the US, current account deficit narrowed to $251.10 billion in 2Q 2022, compared to a revised deficit of $282.50 billion in the prior quarter. Market expectations were for deficit to widen to $260.60 billion.
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