UK House Price Growth Slows
Data released earlier today revealed that house prices for December in the UK rose at the slowest annual rate in thirteen months. This assumes significance given the BoE’s tougher lending measures earlier this year. However, today’s report indicated that housing activity in the UK is expected to improve in the months ahead, amid signs of a pickup in domestic spending levels. The Pound has shown little reaction to today’s data as sentiment among investors remained subdued amid prospects of a snap election in Greece early next year.
Across the Atlantic, the Conference Board’s report scheduled later today is anticipated to show that morale among consumers in the US improved and reached close to its pre-recession peak.