2017-12-01 07:16:09
United Kingdom
. The pound rose again after the release of strong services sector data as it continued its recovery following the EU referendum result.
. The Bank of England’s Monetary Policy Committee unanimously voted to hold rates at 0.25%.
European Union
. EU consumer confidence bounced back in September.
. German consumers reported robust sentiment but the country’s business confidence fell.
Asia Pacific
. Australia’s Bureau of Statistics figures showed nearly 76,000 jobs were added in professional, scientific and technical services in the three months to August.
. Australia’s economy grew by 3.3% over the year to June, making it the 100th quarter without a recession.
United States
. The Federal Reserve’s decision to keep rates on hold left investors waiting to see the outcome of the presidential election before a rate rise is put back on the agenda.
. The US economy added 151,000 jobs in August, while the unemployment rate stayed at 4.9%, according to the US Labor Department.
Bric
. China revived its off-budget fiscal stimulus.
. In August, $51bn left the Chinese mainland, according to Standard Chartered estimates, as authorities increased support for the mainland currency which is under devaluation pressure.
Africa
. South Africa’s central bank kept its key interest rate at 7% in line with expectations, as the threat of recession softened amid lower inflation.
. Nigeria’s head of senate, Bukola Saraki, warned that the recession-hit country must sell stakes in state-owned assets if it is to avoid a fiscal crisis.
. Kenya cuts interest rate by 50bps to 10% as its central bank aims to counter slowdown in private sector credit growth.
Japan
. With news that the Bank of Japan has unveiled a new form of stimulus, professional investors and economists reacted with mixed enthusiasm.
. Prime minister Shinzo Abe said Japan’s ageing, shrinking population was not a burden but an incentive to boost productivity.
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