What is Credence Independent Advisors Economic Review for the Last Week ?

The European Central Bank took strong measures and dropped interest rates even और when they received growth and inflation rates that were weaker than their expectations.

They decreased their deposit rate to -0.20% and interest rate to 0.05% and declared two new programs through which they will buy asset backed securities and bonds. The news announced the dropping of the euro to 1.29 US dollars.

The purchasing managers’ index was also changed downwards. The total Markit PMI output went down to 52.5, which is lower than the expected 52.8 and the 53.8 that was July’s concluding output. In July Eurozone’s retail sales decreased द्वारा 0.4%, after witnessing an increase of 0.3% in June. The decline in July was और than expected.

In the United Kingdom, the Bank of England managed to keep up its asset purchase ceiling at £375 billion. It also managed to regulate its bank rate at 0.5%, which has been maintained since early 2009.

The finance minister of Germany, Wolfgang Schauble stated that they might miss their growth target of 1.8%, let alone exceed it, as he had expected two months earlier.

The economic status of US remained healthy, and the latest news pointed to a steady recovery. In August alone, employers made an addition of 142,000 jobs, which lowered the unemployment rate to 6.1%.