(MENAFN- Baystreet) U.S. Treasury Yields At Six-Month High
China's Economy Grew 5.3% In The First Quarter
China's Exports And Imports Fell In March As Economy Struggles
U.S. Inflation Rate Rises To 3.5%, Sending Stocks Lower
New York Stock Exchange Courts Japanese Companies Previous Articles Subscribe to Get Small Cap News & Alerts Baystreet Staff - Wednesday, April 17, 2024
U.K. Inflation Rate Fell To 3.2% In March Inflation in the United Kingdom (U.K.) declined to 3.2% in March, according to data from the Office for National Statistics.
The March inflation reading was down from 3.4% in February but higher than the 3.1% expected among economists polled by the Reuters new agency.
The higher-than-expected March data has prompted concerns that inflation might be sticky and pushed back the timing for the Bank of England to begin lowering interest rates.
Core inflation, which excludes energy, food, alcohol and tobacco, came in at 4.2%, compared with a forecast of 4.1%.
Food prices provided the biggest downward pressure on March inflation while higher gasoline prices pushed it higher.
Services inflation, a key indicator for the British central bank, declined from 6.1% to 6% but was also above the expectations of economists.
Speaking after the latest inflation data was released, Bank of England Governor Andrew Bailey said he saw evidence that higher interest rates are bringing consumer prices lower, falling from a peak of 11.1% in October 2022.
However, markets changed their expectations for rate cuts this year. Futures traders now anticipate a first rate cut of 25 basis points in September or November.
The prime interest rate in the U.K. now stands at 5.25%.
About Us Contact Us Advertise License Our Content Jobs Disclaimer Privacy Policy
Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks
MENAFN17042024000212011056ID1108107762
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.