Register to chat with like-minded investors on our interactive forums.
The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK retail sales rose more than expected in October
In the UK, retail sales registered a rise of 0.80% on a MoM basis in October, compared to a fall of 0.20% in the previous month. Markets were expecting retail sales to record a rise of 0.50%.
UK public sector net borrowing deficit narrowed less than expected in October
In the UK, public sector net borrowing deficit narrowed to £18.00 billion in October, compared to a deficit of £21.00 billion in the previous month. Markets were expecting the deficit to narrow to £17.60 billion.
ECB President says a rate hike unlikely in 2022
European Central Bank (ECB) President, Christine Lagarde, in her latest speech reiterated that a rate hike in 2022 is very unlikely. She warned that the central bank “must not rush into a premature tightening” of monetary policy. Further, Lagarde indicated that high inflation rates were expected to rise further until the end of the year. She stated that this inflationary pressure was “unwelcome and painful.”
Eurozone current account surplus widened in September
In the Euro-zone, the seasonally adjusted current account surplus widened to €18.70 billion in September, compared to a surplus of €13.40 billion in the prior month.
German PPI climbed more than expected in October
In Germany, the PPI advanced 18.40% on a YoY basis in October, compared to a rise of 14.20% in the previous month. Markets were anticipating the PPI to climb 16.20%.
Click here to sign up for the in depth Guardian Stockbrokers Market Daily report.
