ECB & BOE hold rates; Initial Claims; Pending Home Sales
Summary: Initial claims decline, but continuing claims worsen. Pending home sales flat; off 20% YOY.
ECB & BOE refuse to cut on inflation fears, plunging dollar and spiking commodities.
ECB & BOE Rate Announcement
The BOE Bank of England kept its benchmark rate unchanged at 5.25% today after cutting it twice in the past three months.
ECB head Jean Claude "Tricky" Trichet:
"The current monetary-policy stance will contribute to curbing inflation."
Trichet left the ECB key rate at a six-year high of 4%. The Euro jumped to 1.53 per dollar and has gained 17% in the past year.
Gold, oil and other commodities spiked adding to the already out of control double digit stagflation.
Initial Claims 03/01 -24K at 351K vs prior 375K Full Report
Inside the number: Prior revised up 2K. 4 week MA -1.5K 359.5K; Continuing unemployment +29K at 2.831M; 4 week MA +12.75K at 2.789M.
Pending Home Sales Jan FLAT vs prior +1.5% Full Report
Inside the number: YOY -20%
ECB & BOE refuse to cut on inflation fears, plunging dollar and spiking commodities.
ECB & BOE Rate Announcement
The BOE Bank of England kept its benchmark rate unchanged at 5.25% today after cutting it twice in the past three months.
ECB head Jean Claude "Tricky" Trichet:
"The current monetary-policy stance will contribute to curbing inflation."
Trichet left the ECB key rate at a six-year high of 4%. The Euro jumped to 1.53 per dollar and has gained 17% in the past year.
Gold, oil and other commodities spiked adding to the already out of control double digit stagflation.
Initial Claims 03/01 -24K at 351K vs prior 375K Full Report
Inside the number: Prior revised up 2K. 4 week MA -1.5K 359.5K; Continuing unemployment +29K at 2.831M; 4 week MA +12.75K at 2.789M.
Pending Home Sales Jan FLAT vs prior +1.5% Full Report
Inside the number: YOY -20%
Comments