Next month, we will see the first increase in the cost of borrowing in over nine years, notwithstanding any horrendous sets of economic data emerging in the next few weeks.
Worryingly, the UK’s productivity continues to lag behind all major trading partners.
This drop in activity was undoubtedly prompted by buyers being deterred by the higher cost of moving, a concern that has led to virtual paralysis in some segments of the housing market.
So, there’s a chance we might avoid the notorious cliff edge, then.
For what it’s worth, I would still like to see higher wage growth and stronger resilient economic growth before a rise in rates. Brexit remains a concern.
I read a good analogy in The Times that suggested that QE was a little like toothpaste in a tube – easy to squeeze out, awkward to put back, assuming that it will go. My thoughts exactly.
Perhaps Mr Saunders needs to refer to more recent economic data and commentary before he suggests that we are headed back to strong economic growth.
Monetary policy remains confused. Too many contradictory messages out there, too little clear thinking. This needs to be addressed.
Britons are buying and selling houses less frequently than they once did.
Clarity, please; let’s have some clarity.