Impending tax increase sparks buy-to-let rush – Royal Institution of Chartered Surveyors January 21, 2016 A higher tax rate on house purchases due to start in April has caused a surge in demand from buy-to-let investors, new figures show this morning. From April, buy-to-let investors will have to pay three per cent more in stamp duty land tax (SDLT) than residential buyers. In December, 10 per cent more chartered surveyors in [...]
Investor optimism on world economy drops to four-year low – Bank of America Merrill Lynch fund manager survey January 20, 2016 Investors are at their most bearish on the global economy since 2012, according to survey data published by Bank of America Merrill Lynch today. The difference between the percentage of fund managers who said the economy would strengthen over the next 12 months and those that said it would not was eight per cent. The net balance [...]
Canadian dollar jumps as Bank of Canada holds fire on interest rates despite further fall in oil prices January 20, 2016 The Bank of Canada kept interest rates on hold today despite widespread expectations of a cut. The Canadian dollar, also called the loonie, rose 0.7 per cent against the US dollar. It now buys $0.6891. Interest rates were kept at 0.5 per cent, with the Canadian central bank confident that the economy would quickly adjust [...]
US inflation rate climbs to highest since 2014 January 20, 2016 US inflation climbed to a rate of 0.7 per cent in December from 0.5 per cent the month before, according to figures released today. The US Bureau of Labor Statisitcs said inflation – as measured by the year-on-year change in the consumer price index – said average food prices had climbed 0.8 per cent while energy prices had [...]
Russian rouble falls to 18-year low against the dollar January 20, 2016 The Russian rouble has fallen to its lowest value against the dollar since its 1998 redenomination. The rouble has lost around 57 per cent of its dollar value since mid-2014, when oil prices began to decline sharply. Swings in the rouble have closely tracked movements in oil prices over the last two years. Crude oil [...]
UK unemployment drops to its lowest rate for over a decade, but earnings growth hits nine-month low January 20, 2016 Pay growth has fallen to a nine-month low, according to figures published this morning. Average weekly earnings not including bonuses rose 1.9 per cent in the three months to November compared with the same period last year, the Office for National Statistics said. It marks a slowdown from two per cent in the three months to October. [...]
Global financial market turmoil dents investor sentiment January 20, 2016 Investor sentiment has fallen to its second lowest level since July 2013, according to figures released this morning. The Lloyds Bank Private Banking investor sentiment index, compiled from survey data, dropped to a score of 4.55 per cent this month. It was the lowest since September last year when a big rout in Chinese stocks sent [...]
Hometrack: London asking prices accelerated in December January 20, 2016 London asking prices have risen 13.8 per cent over the last 12 months, according to figures released this morning by property market analysts Hometrack. The figures showed prices in the capital were the rising at the second-fastest rate in the country. The UK-wide index, which covers homes in cities, showed a rise of 11.4 per cent [...]
Pound plummets to lowest value against the US dollar since 2009 January 19, 2016 The pound has fallen to its lowest value against the US dollar since 2009. Sterling rose in the morning to a value $1.43257 before Bank of England chief Mark Carney said now was not the time to raise interest rates. Carney also signalled he was some way off from voting for a rate hike. The pound [...]
Eurozone construction jumps in November January 19, 2016 Construction in the Eurozone jumped 0.8 per cent in November compared with the month, adding to the evidence that the economy of the currency-bloc is picking up speed. Compared with the same month last year, construction was up 2.1 per cent, the figures released this morning by Eurostat, the statistical office of the EU, show. While [...]