Memo to Bank of England – 31st August 2006 Today the Nationwide building society announced yet more sharp increases in house prices in the UK. The Nationwide noted that the recent increase this month by the Bank of England had little or no effect in cooling the property market. Nationwide, the largest building society...
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Finance
Memo to the Bank of England
UK consumer spending suggests rate increase
Strap yourselves in for a bumpy ride this winter. It seems that the surprise rate increase by the Bank of England earlier this month hasn’t been enough to hold consumer spending or an increase in house prices in the UK. What’s the Bank of England to do? According to the CBI today, retail sales...
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US interest rates could hold longer
It looks like we could see US interest rates on hold for a little longer, even though the decision by the Fed to pause rates was a close call last time. The market rose after the release of the minutes of the Fed meeting. The Financial Times of London reports that: ...The minutes said...
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UK lenders push too far this time
In Shakespeare’s era, moneylenders had a real image problem. As witnessed in the popularity of the play, The Merchant of Venice at the time – a play in which the evil money lender, Shylock intends to exact revenge on the poor Antonio, only get his own comeuppance at the end of the play. Today,...
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Further UK rate rise on the way
It looks like more rate increases in the UK are on the way after a poll of British Economists by Reuters has seen over two thirds of them predict an increase in rates in the next quarter, in order to cool rising inflation and growth heading into 2007. The monthly survey, carried out last...
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