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Jul 3, 2014

UK services sector growth slows in June, but Q2 prospects still bright

LONDON (Reuters) – Growth in Britain’s dominant services industry slowed more than expected in June, but the economy as a whole appears to have expanded robustly over the past three months, a survey showed on Thursday.

British government bonds outperformed and sterling eased off recent near-six-year highs after the monthly services purchasing managers’ index (PMI) dropped to a three-month low of 57.7 -having hit its highest so far this year in May.

Jul 3, 2014

UK services sector slows in June, but second quarter prospects still bright

LONDON (Reuters) – Growth in Britain’s dominant services industry slowed more than expected in June, but the economy as a whole appears to have expanded robustly over the past three months, a survey showed on Thursday.

British government bonds outperformed and sterling eased off recent near-six-year highs after the monthly services purchasing managers’ index (PMI) dropped to a three-month low of 57.7 -having hit its highest so far this year in May.

Jul 3, 2014

UK services sector slows in June, but Q2 prospects still bright

LONDON, July 3 (Reuters) – Growth in Britain’s dominant
services industry slowed more than expected in June, but the
economy as a whole appears to have expanded robustly over the
past three months, a survey showed on Thursday.

British government bonds outperformed and sterling eased off
recent near-six-year highs after the monthly services purchasing
managers’ index (PMI) dropped to a three-month low of 57.7
-having hit its highest so far this year in May.

Jul 3, 2014

House prices rising more than income pose risk – Bank of England’s Cunliffe

LONDON, July 3 (Reuters) – Rapidly rising house prices are a
problem that has spread beyond London, and the risk they pose to
the economy grows greater the more they outpace
mortgage-holders’ incomes, a Bank of England policymaker said on
Thursday.

London house prices are nearly 26 percent higher than a year
earlier – the biggest annual jump since 1987 – and those in the
country as a whole were up by almost 12 percent, Nationwide
figures showed on Wednesday.

Jul 2, 2014

UK housing market strengthens further, defies cooling measures

LONDON, July 2 (Reuters) – Britain’s house prices rose at
their fastest rate in nine years and London prices showed their
biggest jump in a generation, data showed on Wednesday, as
measures to curb mortgage lending have yet to have an impact.

Stricter checks on borrowers’ ability to pay back mortgages
were introduced in April and have weighed on the approval of
home loans. Some fear these could become unaffordable when
interest rates eventually rise from a record low.

Jul 1, 2014

Roaring UK manufacturing points to broadening recovery

LONDON, July 1 (Reuters) – British manufacturing activity
expanded at its fastest rate in seven months in June, the latest
sign that the consumer-led recovery is broadening out and
becoming more balanced.

New orders flowed in at the fastest rate since November and
manufacturers took on staff at the quickest pace since March
2011, although output growth slowed slightly and input costs
rose for the first time since January.

Jun 27, 2014

Robust first-quarter UK growth supported by boom in business investment

LONDON (Reuters) – British business investment grew at the fastest rate in two years in the first quarter of 2014, supporting robust economic growth and adding to signs that the country’s consumer-led recovery is becoming more sustainable.

The headline economic growth rate for the first quarter was unchanged at 0.8 percent in revised official data on Friday, but the numbers showed that business investment was growing almost twice as fast as previously thought.

Jun 26, 2014

Bank of England caps some home loans, toughens mortgage affordability tests

LONDON, June 26 (Reuters) – The Bank of England sought to
put the brakes on Britain’s surging housing market on Thursday
by announcing a cap on home loans and tougher checks on whether
borrowers can repay their mortgages.

The Bank’s Financial Policy Committee said that from
October, it would only allow 15 percent of new mortgages to be
at multiples higher than 4.5 times a borrowers’ income.

Jun 26, 2014

Bank of England to cap home loans, toughen mortgage affordability test

LONDON, June 26 (Reuters) – The Bank of England sought to slam the brakes on Britain’s surging housing market on Thursday by announcing a cap on home loans and tougher checks on whether borrowers can repay their mortgages.

The Bank’s Financial Policy Committee said that from October, it will cap mortgages worth 4.5 times a borrowers’ income and that this would apply to 85 percent of total new home loans.

Jun 24, 2014

BoE eyes tough mortgage curbs to tackle house price surge

LONDON (Reuters) – The Bank of England looks set to take tougher action on Thursday than expected just weeks ago to rein in fast-rising British house prices, although a blanket limit on how much home buyers can borrow is seen as unlikely.

BoE Governor Mark Carney has warned that the housing market is the biggest domestic threat to financial stability, and on Thursday the British central bank is scheduled to make recommendations for lenders on how to reduce this risk.

    • About Ana

      "Ana Nicolaci da Costa is UK Economics Correspondent, covering monetary and fiscal policy in London. Ana previously worked as Reuters' Economics Correspondent in Brasilia and covered European markets, including the euro zone debt crisis. She began working for Reuters in 2004 in London, after an internship at the Financial Times. Ana has a Master's degree from the University of London and studied political science as an undergraduate at the University of Nottingham and Institut d'Etudes Politiques de Paris."
      Joined Reuters:
      2004
      Languages:
      English, Portuguese, French, German, Spanish
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