The Nationwide data provides support for our long-held view that house prices will be unable to sustain sharp gains for some time to come.
More Quotes from Howard Archer:
Relatively subdued consumer spending, intense domestic and international competition, and high input costs continue to dampen ... the sector.Howard Archer
The minutes pour more cold water over the prospects for a near-term interest rate cut.
Howard Archer
The Bank of England will not be happy to see that manufacturers output prices rose at an increased rate in December, as it suggests that they could be stepping up their efforts to pass on their higher input costs despite intense domestic and international competition and relatively soft demand.
Howard Archer
This underpins our belief that the Bank of England is too optimistic on the growth outlook and will eventually end up trimming interest rates by a further 25 basis points.
Howard Archer
Retail sales were significantly healthier than expected in September and August's sales were revised up, going a long way to killing off already fading hopes of a November interest rate cut,
Howard Archer
This subdued growth is expected to help to contain underlying inflationary pressures and risks, underpinning our belief that interest rates will be cut by a further 25 basis points in February or March.
Howard Archer
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