ADVFN Logo
Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

Guardian Stockbrokers Key Economic News Friday 20 March 2020

Share On Facebook
share on Linkedin
Print

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

©

BoE cuts its key interest rate to limit the economic fallout from the Covid-19 pandemic

The BoE, in a surprise move, lowered its benchmark interest rate by 15bps to 0.10% and announced that it would make additional bond purchases worth £200.0 billion, in an effort to offset the economic impact of the Covid-19 pandemic. Further, the central bank indicated that it would keep under review the case for participating in the primary market, suggesting it could eventually buy bonds from the government or companies directly rather than on secondary markets as it does now.

Euro-zone construction output advanced in February

In the Euro-zone, construction output recorded a rise of 3.61% on a MoM basis in January, compared to a revised fall of 1.82% in the previous month.

German Ifo business climate index declined in March

In Germany, the Ifo business climate index unexpectedly rose to a level of 87.70 in March, compared to a revised level of 96.00 in the previous month.

German Ifo business expectations index fell in March

In Germany, the Ifo business expectations index registered a drop to a level of 82.00 in March, compared to a revised level of 93.20 in the previous month.

US Philadelphia Fed manufacturing index fell in March

In the US, Philadelphia Fed manufacturing index registered a drop to a level of 12.7 in March, compared to market expectations of a fall to a level of 10.00. In the prior month, index had registered to a reading of 36.70.

Click here to sign up for the in depth Guardian Stockbrokers Market Daily report.

Click Here to register for free on Investors Hub

This area of the investorshub.advfn.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of Investors Hub. Investors Hub does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at Investors Hub is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by investorshub.advfn.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.

Comments are closed