Wednesday, 14 November 2007

Housing Slump, What Could Trigger It?... UK

Mervin King , the governor of the Bank of England (Equivalent of Trichet for the ECB) is hinting at at a rate cut sometime next year as the UK Housing Market might turn sour...

"The central projection is for growth to slow sharply in the next year,'' Bank of England Governor Mervyn King said at a press conference in London today. "There has been some tightening of credit. Residential and commercial property investment are likely to moderate, possibly quite sharply.''

source: Bloomberg

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