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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone consumer confidence index rose in September
In the Euro-zone, the consumer confidence index advanced to a level of -4.00 in September, compared to a reading of -5.30 in the prior month. Markets were expecting the index to rise to -5.00.
US existing home sales dropped in August
In the US, existing home sales fell 2.00% on a MoM basis in August, compared to a revised rise of 2.20% in the previous month.
US mortgage applications advanced in the week ended 17 September 2021
In the US, the mortgage applications rose 4.90% on a weekly basis in the week ended 17 September 2021, compared to an advance of 0.30% in the prior week.
Fed kept its key interest rate unchanged
The US Fed, in its latest monetary policy meeting, kept its benchmark interest rate unchanged in the range of 0% to 0.25% and expects its interest rates to be raised next year compared to previous forecasts calling for the first rate hike in 2023. Further, the central bank indicated that it would start reducing its monthly bond purchases as soon as November and complete the process by mid-2022. Meanwhile, the Fed downwardly revised its GDP growth forecasts for 2021 to 5.9% from 7.0%.
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