British Pound kept growing on Forex market on Thursday, despite of analysts’ scepsis and ambiguous signals from the indicators, which were calling to stay out of the market.
As Bank of England has announced today, about 47,643 credits were approved by creditors in June against the May’s number of 49,461. Decreasing demand for the real estate shows both toughening of the loan requirements and decrease of the consumer trust level.
Moreover, according to “Nationwide” research published on Thursday, prices for the accommodation dropped in July for the first time in last 5 months. Economists say that real estate market in GB has reached its turning point. At the same time an average forecast analysts give says that till the end of the year prices for accommodation will be going down, as their previous recovery had a very weak base under it.
Mervyn King – the head of the Bank of England – had mentioned on Wednesday in his speech in Parliament that Britain had the long way to go before interest rates would get to the level of 2008. King said that he would be glad to see the signal about the possibility of stable economic forecast, but it would take lots of time. Interest rate in Britain is at 0,5% per annum at the moment.
In general, till the end of the week it is most likely that Pound will be traded smoothly, without any major changes, if the outer background would stay positive. Pound will continue its Wednesday’s roll-back if the situation will change.
As Bank of England has announced today, about 47,643 credits were approved by creditors in June against the May’s number of 49,461. Decreasing demand for the real estate shows both toughening of the loan requirements and decrease of the consumer trust level.
Moreover, according to “Nationwide” research published on Thursday, prices for the accommodation dropped in July for the first time in last 5 months. Economists say that real estate market in GB has reached its turning point. At the same time an average forecast analysts give says that till the end of the year prices for accommodation will be going down, as their previous recovery had a very weak base under it.
Mervyn King – the head of the Bank of England – had mentioned on Wednesday in his speech in Parliament that Britain had the long way to go before interest rates would get to the level of 2008. King said that he would be glad to see the signal about the possibility of stable economic forecast, but it would take lots of time. Interest rate in Britain is at 0,5% per annum at the moment.
In general, till the end of the week it is most likely that Pound will be traded smoothly, without any major changes, if the outer background would stay positive. Pound will continue its Wednesday’s roll-back if the situation will change.
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