UK Nationwide House Prices SA (Jun) M/M -0.6% vs. Exp. 0.1% (Prev. 0.3%, Rev. 0.2%)
UK Nationwide House Prices NSA (Jun) Y/Y -1.5% vs. Exp. -0.6% (Prev. -0.7%) (Newswires)
The outlook for the coming 12-months remained uncertain for both house prices and the economy, according to Nationwide analysis.
Former BoE member Goodhart has said now is an excellent time to purchase a house in the UK, as the nation's housing shortage will drive up prices, with demand outstripping supply. (Newswires)
UK Foreign Secretary Hague is planning to launch an audit into the impact of EU law on the UK this summer, an exercise that could fuel a Conservative party drive to repatriate powers from Brussels. (FT-More) Conservative activists are pressuring the government to reclaim powers in areas such as employment law and regional policy.
Median pay growth in the private sector is holding steady at 2.5-3.0%, easing the income squeeze for some consumers, however a slowdown in growth of public sector pay has offset the effects on the macroeconomy. (FT-More)
UK PM Cameron will tell European leaders in Brussels today that he has agreed to inject GBP 1.3bln from Britain into an EU-wide growth plan. (Telegraph) The scale of the increase - twice the cost of this week's fuel duty rise deferment - is likely to surprise Tory MPs and undermine Cameron's argument that he is pursuing budget restraint.
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