The Star Online: Business
The Star Online: Business |
- UK house prices fall faster, demand dips
- apan Azumi to take firm steps on foreign exchangeas necessary
- UK's PM warns against talking down global economy
| UK house prices fall faster, demand dips Posted: 30 Oct 2011 05:58 PM PDT LONDON, Oct 31 (Reuters) The fall in house prices in England and Wales accelerated in October as consumers become increasingly worried about the outlook for the economy and shy away from buying homes, property data firm Hometrack said. Average prices dipped 0.2 percent on the month compared to falls of 0.1 percent in each of the five preceding months, Hometrack said. House prices were 2.8 percent below the October 2010 level. "Growing consumer concern over the outlook for the economy is beginning to impact directly on house prices," Hometrack Director of Research Richard Donnell said in a statement. As in previous releases, the survey showed large regional differences, although prices stalled even in London after rising for seven months in a row. "The evidence is clear that buyers are drifting away from the market in the face of weak consumer confidence and concerns over the prospects for the economy and their household finances," Donnell said. Hometrack said that while demand eased, supply had grown by 11 percent over the past six months. "The balance between supply and demand is clearly shifting and points to an acceleration in price falls in the coming months," Donnell said. Full content generated by Get Full RSS. |
| apan Azumi to take firm steps on foreign exchangeas necessary Posted: 30 Oct 2011 05:55 PM PDT Published: Monday October 31, 2011 MYT 8:56:00 AMTOKYO, Oct 31 (Reuters) Japanese Finance Minister Jun Azumi said on Monday that he would take firm measures on foreign exchange as necessary but added that he saw no specific reason behind the yen's record high against the dollar earlier in the day. He told reporters recent currency moves were speculative and did not reflect the real economy. The dollar touched a record low of 75.31 yen earlier on Monday. |
| UK's PM warns against talking down global economy Posted: 30 Oct 2011 05:53 PM PDT Published: Monday October 31, 2011 MYT 8:54:00 AMLONDON, Oct 31 (Reuters) British Prime Minister David Cameron has urged colleagues, at home and abroad, to avoid talking down domestic and global economic prospects. Writing in the Financial Times newspaper on Monday, Cameron said pessimism and fear can become selffulfilling prophecies in global markets. "At the G20 I'll be making the argument that inwardlooking, beggarmyneighbour policies benefit no one," he said. |
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