Register for real-time alerts, custom portfolio, and market movers
The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE keeps interest rate steady and slows bond-buying
The BoE, in its latest monetary policy decision, kept its benchmark interest rate unchanged at 0.10%, as widely expected and reduced the pace of weekly government bond purchases to £3.4 billion from £4.4 billion. Additionally, the BoE raised its growth forecasts for the British economy to 7.25% this year, citing rapid progress in the country’s vaccine rollout programme. However, it lowered its growth projection for 2022 to 5.75% from its previous estimate.
UK services PMI climbed in April
In UK, the final services PMI rose to a level of 61.00 in April, compared to a reading of 56.30 in the prior month. Market expectations were for the services PMI to advance to a level of 60.10.
Euro-zone retail sales rose more than expected in March
In the Euro-zone, the seasonally adjusted retail sales rose 2.70% on a MoM basis in March, compared to a revised advance of 4.20% in the previous month. Markets were expecting retail sales to climb 1.50%.
German factory orders climbed more than expected in March
In Germany, the seasonally adjusted factory orders recorded a rise of 3.00% on a MoM basis in March, compared to a revised advance of 1.40% in the previous month. Markets were anticipating factory orders to advance 1.70%.
US initial jobless claims dropped more than expected in the week ended 30 April 2021
In the US, the number of initial jobless claims fell to a level of 498.00 K in week ended 30 April 2021, compared to a revised level of 590.00 K in prior week. Markets were expecting the initial jobless claims to record a fall to 540.00 K.
Click here to sign up for the in depth Guardian Stockbrokers Market Daily report.
