European Economic News Preview: UK Chancellor To Present Spring Budget

RTTNews | hace 714
European Economic News Preview: UK Chancellor To Present Spring Budget

(RTTNews) - UK Chancellor of the Exchequer Jeremy Hunt is set to deliver the Spring Budget 2023 on the parliament on Wednesday.

Hunt is set to outline the tax and spending plans of the government for the year ahead. The announcement is due at 8.30 am ET.

Other major economic reports due for the day are final inflation from France and industrial production from the euro area.

At 3.00 am ET, Destatis is scheduled to issue Germany's wholesale prices for February. Prices had increased 10.6 percent annually in January.

In the meantime, foreign trade from Norway and consumer prices from Sweden are due. Sweden's consumer price inflation is forecast to remain unchanged at 11.7 percent in February.

At 3.45 am ET, France's statistical office INSEE releases final consumer and harmonized prices for February. The initial estimate showed that consumer price inflation rose to 6.2 percent from 6.0 percent in January.

At 4.00 am ET, the Czech Statistical Office is scheduled to issue producer prices for February. Producer price inflation is seen easing to 16.9 percent from 19.0 percent in January.

At 6.00 am ET, Eurostat publishes euro area industrial production for January. Economists expect output to grow 0.4 percent on month, in contrast to the 1.1 percent decrease in December.

read more
TSX Remains Positive Despite Coming Off Early Highs

TSX Remains Positive Despite Coming Off Early Highs

The Canadian market has pared most of its gains Wednesday afternoon, with investors largely reacting to earnings updates, and monitoring geopolitical developments. Despite concerns about fresh tariffs, the market is positive as news about U.S. and Ukraine agreeing on a minerals deal is aiding sentiment.
RTTNews | hace 5h 56min
Swiss Market Ends Marginally Up

Swiss Market Ends Marginally Up

The Switzerland market pared some intraday gains and ended marginally up on Wednesday as stocks stayed a bit sluggish past mid afternoon.
RTTNews | hace 7h 6min
European Stocks Close On Firm Note On Results

European Stocks Close On Firm Note On Results

European stocks closed higher on Wednesday, reacting to some strong earnings updates, and slightly easing geopolitical concerns following Ukraine and the U.S. agreeing on a minerals deal.
RTTNews | hace 7h 37min
U.S. New Home Sales Plunge Much More Than Expected In January

U.S. New Home Sales Plunge Much More Than Expected In January

A report released by the Commerce Department on Wednesday showed a substantial pullback by new home sales in the U.S. in the month of January. The Commerce Department said new home sales plunged by 10.5 percent to an annual rate of 657,000 in January after spiking by 8.1 percent to an upwardly revised rate of 734,000 in December.
RTTNews | hace 9h 54min
Bay Street Likely To Open On Positive Note

Bay Street Likely To Open On Positive Note

Canadian shares are likely to open higher Wednesday morning, tracking positive global cues, and encouraging earnings from National Bank of Canada.
RTTNews | hace 12h 27min
German Consumer Confidence To Continue Negative Trend

German Consumer Confidence To Continue Negative Trend

Consumer sentiment in Germany is set to continue its negative trend as higher prices, economic and political uncertainty weigh on households' income expectations and their willingness to buy, a closely watched survey showed on Wednesday. The forward-looking consumer sentiment index unexpectedly fell to -24.7 in March from -22.6 in February, a survey jointly published GfK and NIM revealed.
RTTNews | hace 13h 2min
Thailand Cuts Key Interest Rate By 25 Bps

Thailand Cuts Key Interest Rate By 25 Bps

The Thai central bank reduced its key interest rate on Wednesday to address the increasing downside risks to the economy amid persistently low inflation. The Monetary Policy Committee of Bank of Thailand voted 6-1 to cut the policy rate by 25 basis points to 2.00 percent from 2.25 percent. One rate-setter preferred to keep the rate unchanged.
RTTNews | hace 13h 43min
Hong Kong Budget Focuses On Spending Cuts, Promoting AI

Hong Kong Budget Focuses On Spending Cuts, Promoting AI

Hong Kong Financial Secretary Paul Chan unveiled the budget on Wednesday that largely focused on government spending cuts with minimal impact on people's livelihood and underscored the importance of artificial intelligence to enhance competitive edge. The government estimated a consolidated deficit of HK$87.2 billion for 2024-25, which was smaller than the HK$100 billion previous projection.
RTTNews | hace 14h 10min