All eyes on the Federal Reserve Bank at 7:15pm as Greenspan announces the interest rate decision. It is widely expected that he will raise the base rate by 0.25% to 1.25%.
ThisisLondon: Buy-to-let investors active
The buy-to-let bubble has not burst. But it has deflated, figures released this week reveal. Although the bottom has not fallen out of the market, buy-to-let property is no longer the exciting get-rich scheme it used to be.
Reuters | Bank of England voted 9-0 for rate rise: All nine members of the Bank of England's Monetary Policy Committee voted for this month's quarter-point rise in interest rates to 4.5 percent, minutes of their June 9 and 10 meeting show.
House prices plunge HOUSE prices fell slightly during the second week of June, suggesting the booming property market could finally be slowing down, figures showed today.
Headline news from Sky News - Witness the event House prices are set to fall by an average of 20% during the next three years as the booming property market corrects itself, a research group has claimed.
Interest rates: How high will they go? - [Sunday Herald]: After two hikes in interest rates in as many months, the cost of mortgages in Britain seems to be rising inexorably. The Bank of England says it’s necessary to cool the market to prevent a return to 1980s chaos … but will it work?
BBC NEWS | Business | Why have rates gone up again? Interest rates have gone up for the second consecutive month. The chief economist at the Halifax bank, the UK's biggest mortgage lender, explains why the Bank of England's rate-setting committee has acted once again.
FT.com / UK Spending Review 2002 Rampant house price growth is likely to spur the Bank of England into action again this week, economists said yesterday after yet more evidence that the housing market is uncomfortably strong.
This is London: Interest rate 'on the way up' MARKETS are betting on an increase in borrowing costs this week. Another quarter-point rise in base rates to 4.5% is being forecast as the Bank of England's Monetary Policy Committee tries to curb the boom in consumer credit.
This is London: Homeowners face financial ruin
FIVE million homeowners in Britain would face financial ruin if mortgage interest rates reached the levels they stood at for much of the 1980s, a survey conducted by This Is Money has revealed. A further 5m people would have trouble meeting their monthly repayments.
