Eurozone Inflation Holds Steady as BoE Leaves Rates Unchanged

The Eurozone's final Consumer Price Index (CPI) inflation data for August was released today, showing that inflation remained unchanged at 3.3% year-over-year and 0.4% month-over-month. Core CPI inflation also held steady at 2.4% year-over-year.

Earlier in the day, the Bank of England (BoE) announced its interest rate decision, leaving rates unchanged at 3.75%. The Monetary Policy Committee (MPC) voted with a majority of six members for no change, three for a rate hike, and none for a cut.

In the US, initial jobless claims came in at 206.5K, matching forecasts. However, the Philadelphia Fed Business Index declined to 32.1, down from 47.4 previously. Housing starts increased to 1.32M, while building permits dipped to 1.408M.

Canada's PPI remained unchanged at 0.0% month-over-month, but the Raw Materials Price Index (RMPI) rose by 0.8%. The US pending home sales index fell by -0.1% month-over-month, while natural gas storage saw an increase of +48 Bcf.