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Fed Signals No Increases in 2019 | UK Retail Sales Beats Estimates
Published March 21, 2019
The Federal Reserve left interest rates unchanged, lowered its growth forecast and predicted that there would be no rate hike this year due to a recent slowdown in economic growth. Most Fed officials now anticipate holding rates steady for the remainder of 2019.
UK retail sales showed strong growth last month compared to a year before, in a sign that consumers remain unaffected by the Brexit impasse. The UK retail sales recorded an unexpected growth of 0.4% in February, beating market expectations of -0.4%.
The Bank of England kept interest rates steady with a unanimous vote and indicated that uncertainties over Brexit were too great to provide a clear guide to the forces shaping the economy. The MPC added the economic outlook will continue to depend significantly on the nature and timing of EU withdrawal.
President Donald Trump has warned that the United States will not immediately lift tariffs on $250 million worth of Chinese goods even if a trade deal with Beijing is reached in coming weeks. Trade talks are set to resume next week, and Chinese officials have been pressing for a full lifting of US tariffs as part of any deal.