Daily Three: The Bank of England Cuts Key Interest Rate, Jobless Claims Total 269k and Factory Orders Decline Sharply
- The Bank of England announced today that it will be cutting its key interest rate for the first time in seven years to a historic low of 0.25% in addition to a massive stimulus package, highlighting the concern of the June 23rd referendum outcome. The Wall Street Journal
- Jobless claims for the week rose slightly to 269,000 and were expected to fall toward 265,000 but the data now shows 74 consecutive weeks below the 300,000 threshold that signals a healthy labor market. CNBC
- Factory orders fell by 1.5% in June mostly driven by the decline in durable goods orders which fell a revised 3.9% in June. MarketWatch