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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Andrew Bailey says managing BoE’s £1 trillion balance sheet a ‘major issue’ post Covid
Bank of England (BoE) Governor, Andrew Bailey, in his latest speech, stated that British economic growth is recovering strongly from the coronavirus pandemic, but managing the country’s trillion-pound balance sheet would be one of the central bank’s biggest challenges over the next five years.
Euro-zone industrial production climbed more than expected in April
In the Euro-zone, seasonally adjusted industrial production rose 0.80% on a MoM basis in April, compared to a revised rise of 0.40% in the prior month. Markets were expecting the industrial production to record an advance of 0.20%.
RBA minutes: Australian economic downturn shallower than expected
Minutes of the Reserve Bank of Australia’s (RBA) June meeting signalled that members of the board agreed that it would be “premature” to consider ceasing the bond purchase program. The policymakers noted several scenarios for its quantitative easing program to be decided at the July policy meeting and also set parameters for extending its three-year government bond yield target. Further, the central bank indicated that policy would need to remain highly accommodative to reach full employment.
Australian house price index rose in 1Q 2021
In Australia, the house price index advanced 7.50% on a YoY basis in 1Q 2021, compared to an advance of 3.60% in the prior quarter
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