Can Cable bounce back on positive housing data?

by gracecheng | October 15, 2006 at 08:24 pm
444 views | 0 Recommendations | 0 comments

UK Rightmove house prices survey shows that asking prices surged 2%
month-over-month, bringing the annual rate to 11.5%, and pushing prices
to a record high of GBP218,954, beating the previous record of
GBP217,580 in July. That marked the fastest pace of annual UK house price inflation in almost 2 years
since Nov 2004. Rightmove said that unique conditions such as a
combination of sustained low inflation, low interest rate and
widespread home ownership helped pushed prices higher. That should be
supportive of the GBP as it provides further evidence for a Bank of
England rate hike before the end of the year. GBP/USD has been moving
downward in the Asian morning, but things could change...

Advertisement

Comments (0)

This story was created over 3 months ago, the comment thread is now closed.

closeSign in to NowPublic

is reporting from