Mortgage News
BoE set to downgrade UK growth prospects – today’s papers
British businesses are seeing costs rise far more slowly than the headline inflation rate, signalling price rises will continue to trouble consumers, according to leading economic analysts.
Fathom Consulting said its new analysis supports the policy of keeping interest rates low, ahead of the Bank’s updated forecasts which are today expected to downgrade Britain’s economic prospects for the fourth quarter running, writes the Telegraph.
Weaker growth, combined with a largely unchanged medium-term inflation picture, will give Governor Mervyn King ammunition to say he is vindicated in his decision to hold interest rates at a record 0.5pc low, despite over-target inflation. MORE…
Europe’s largest banks will undertake a new round of stress tests next year that will be tougher than any they have yet faced, according to a senior official with the European Commission. MORE…
John Paulson, the hedge fund manager who made billions betting against the risky mortgages that bankrupted Lehman Brothers, is set to reap another small fortune from his investments in the defunct bank’s debt. MORE…
Industry, not regulation, must lead later life lending change
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