UK stagflation fears rise after grim growth and inflation forecasts; Hong Kong to complain to WTO over US tariffs – business live
Rolling coverage of the latest economic and financial news, as UK economic picture darkens…and house prices hit record highThe economic forecasters at EY Item Club predict UK house prices will probably onle record a “modest improvement” across the course of 2025.Following January’s 0.7% jump in prices, Matt Swannell, chief economic advisor to the EY ITEM Club, says:“Early indicators of housing demand point to another month or two of decent performance for the housing market ahead of the Stamp Duty changes.But over 2025 as a whole, we think that the housing market will show only a modest improvement, given the Bank of England’s gradual and cautious approach will see interest rates fall slowly against a backdrop of stretched housing affordability.”“The US’ measures are grossly inconsistent with the relevant WTO rules and ignore our status as a separate customs territory as stipulated in Article 116 of the Basic Law and recognised by the WTO. The HKSAR Government will formally launch procedures in accordance with the WTO Dispute Settlement Mechanism against the US’ unreasonable measures to defend our legitimate rights.” Continue reading...
Rolling coverage of the latest economic and financial news, as UK economic picture darkens…and house prices hit record high
The economic forecasters at EY Item Club predict UK house prices will probably onle record a “modest improvement” across the course of 2025.
Following January’s 0.7% jump in prices, Matt Swannell, chief economic advisor to the EY ITEM Club, says:
“Early indicators of housing demand point to another month or two of decent performance for the housing market ahead of the Stamp Duty changes.
But over 2025 as a whole, we think that the housing market will show only a modest improvement, given the Bank of England’s gradual and cautious approach will see interest rates fall slowly against a backdrop of stretched housing affordability.”
“The US’ measures are grossly inconsistent with the relevant WTO rules and ignore our status as a separate customs territory as stipulated in Article 116 of the Basic Law and recognised by the WTO. The HKSAR Government will formally launch procedures in accordance with the WTO Dispute Settlement Mechanism against the US’ unreasonable measures to defend our legitimate rights.” Continue reading...
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