Realistbear Posted October 14, 2010 Share Posted October 14, 2010 http://www.bloomberg.com/news/2010-10-13/sentance-says-bank-of-england-faces-increasing-risk-of-credibility-loss.html Sentance Says U.K. House-Price Drop a Sign of Volatility By Scott Hamilton and Svenja O’Donnell - Oct 14, 2010 8:15 AM GMT+0100 Bank of England policy maker Andrew Sentance said the record drop shown in the Halifax house-price gauge last month may show “volatility” instead of heralding a renewed property-market slump. “For the time being I would regard that move in house prices you saw in the Halifax index, which wasn’t replicated in the Nationwide house-price index, as an indicator of volatility in the market rather than the start of a pronounced downward trend,” Sentance said in response to questions after a speech in London late yesterday. Phew, for a minute there I thought the bubble was actually in a correction phase. Good thing Halifax data was just a sign of volatility and not something else. Nice of Mr. Sentance to bring calm to the market which should prevent anymore drops. Quote Link to comment Share on other sites More sharing options...
Minos Posted October 14, 2010 Share Posted October 14, 2010 All part of the conspiracy between the banks and their boys in government to keep debt and asset prices high and wages depressed. Can't have people casting off their shackles can we. Quote Link to comment Share on other sites More sharing options...
koala_bear Posted October 14, 2010 Share Posted October 14, 2010 http://www.bloomberg...ility-loss.html Sentance Says U.K. House-Price Drop a Sign of Volatility By Scott Hamilton and Svenja O'Donnell - Oct 14, 2010 8:15 AM GMT+0100 Bank of England policy maker Andrew Sentance said the record drop shown in the Halifax house-price gauge last month may show "volatility" instead of heralding a renewed property-market slump. "For the time being I would regard that move in house prices you saw in the Halifax index, which wasn't replicated in the Nationwide house-price index, as an indicator of volatility in the market rather than the start of a pronounced downward trend," Sentance said in response to questions after a speech in London late yesterday. Phew, for a minute there I thought the bubble was actually in a correction phase. Good thing Halifax data was just a sign of volatility and not something else. Nice of Mr. Sentance to bring calm to the market which should prevent anymore drops. but if the housing market isn't dropping Mr Sentance can vote for IR rises with a clear conscience! Quote Link to comment Share on other sites More sharing options...
BlackSwan Posted October 14, 2010 Share Posted October 14, 2010 It is a crafty tactic by Sentance to get his way over interest rates. It hardly helps his case to agree that houses prices are falling while asking for a rate rise. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted October 14, 2010 Author Share Posted October 14, 2010 It is a crafty tactic by Sentance to get his way over interest rates. It hardly helps his case to agree that houses prices are falling while asking for a rate rise. Sometimes the best tactic is to confuse everyone and then implment your policies as every argument against will have been divided and conquered. Quote Link to comment Share on other sites More sharing options...
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