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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE Governor warns worsening Covid trend might hurt economy over economy
Bank of England (BoE) Governor, Andrew Bailey, has warned that rising Covid-19 cases threatened the outlook for Britain’s economy but pushed back against speculation that the central bank could soon cut interest rates below zero. He indicated that there were “hard yards” to come and the BoE would do everything it could to support the economy.
Euro-zone consumer confidence index advanced in September
In the Euro-zone, the preliminary consumer confidence index registered a rise to a level of -13.90 in September, compared to a reading of -14.70 in the prior month. Markets were anticipating the consumer confidence index to advance to a level of -14.60.
Jerome Powell: US economy shows improvement but path ahead ‘uncertain’
The US Federal Reserve (Fed) Chairman, Jerome Powell, in his testimony before the House of financial services committee, indicated that the US economy has showed “marked improvement” since the coronavirus pandemic drove it into recession, but the path ahead remains “highly uncertain”.
US existing home sales advanced as expected in August
In the US, existing home sales registered a rise of 2.40% on a MoM basis in August, at par with market expectations and compared to a rise of 24.70% in the previous month.
US Richmond Fed manufacturing index climbed in September
In the US, the Richmond Fed manufacturing index registered a rise to a reading of 21.00 in September, compared to a level of 18.00 in the prior month.
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