Key points from today's business news brought to you by Guardian Stockbrokers.
The UK CPI rose unexpectedly in August
In the UK, the index of consumer prices (CPI) rose 0.20% yoy in August, compared to a 1.00% increase in the previous month. Markets expected the CPI to be flat.
As expected, the UK retail price index fell in August
In the UK, the retail price index fell 0.30% month on month in August, in line with market expectations, compared to a 0.50% increase in the previous month.
The eurozone's trade surplus widened in July
In the eurozone, the trade surplus rose to EUR 20.30 billion in July compared with a revised surplus of EUR 16.00 billion in the previous month.
The US Federal Reserve is signaling interest rates close to zero by 2023
The US Federal Reserve held its key rates unchanged at 0% to 0.25% at its monetary policy meeting in September and also indicated that interest rates could remain anchored near zero until inflation rises steadily. Meanwhile, Fed officials expect interest rates to stay at or near zero through at least 2023. In addition, policymakers forecast an annual GDP decline of 3.7%, below 6.5% previously forecast in June. However, the outlook for 2021 has been lowered to 4% and for 2022 to 3%. The Committee also expects GDP growth of 2.5% in 2023.
US retail sales grew less than expected in August
In the US, retail sales rose 0.60% month on month in August, compared to a revised increase of 0.90% in the previous month. The markets expected retail sales to grow 1.00%.
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