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The housing market of Great Britain recorded in February the slowest price growth rate in 7 years in annual terms. As reported by the Office for National Statistics, housing prices in the country rose by 0.6% in February after an annual growth of 1.2% in the previous month. The slowdown in growth was due to the sharpest fall in housing prices in London since summer of 2009, where the figure fell by 3.8%. In annual terms, housing prices in the UK capital had been falling for the past 12 months, which is the longest period of decline over the past decade. The British Bank of England is adversely affected by measures taken to limit risky mortgage lending, as well as uncertainty about future relations with the EU after Brexit..
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
The second quarter likely saw South Korea’s economy hitting its sharpest downturn in over two decades, a Reuters survey showed on Tuesday. This was mainly from the pandemic dragging the labor market, consumer spending, and global export ...
The Bank of Thailand chief on Monday said that it could take several years for the country’s foreign tourism industry to recover as the economy continues to take a beating from the COVID-19 pandemic. The central bank expects foreign ...
Gold prices traded lower in Asia on Friday morning amid hopes for COVID-19 vaccines from the U.S. and U.K. bolstered investor appetite. Sentiment was further boosted with the European Central Bank (ECB) signaling that it may leave interest ...
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