Mark Carney must cool off an overheating housing market
Outlook Property is once again the hot investment commodity, as results from the buy-to-let lender Paragon clearly demonstrated. First-half profits grew by a fifth and the chief executive reckons lending could more than double in the second half. Clients borrowed £269.3m in the first six months of the company's year, and with a pipeline of £348m, it would be a surprise if his prediction doesn't prove accurate.
Which brings us to yesterday's increase in inflation to 1.8 per cent. That was probably down to factors such as a late Easter, and it still remains below the Bank of England's 2 per cent target. So there doesn't appear to be any real threat of an interest rate rise any time soon, despite what some commentators would have you believe.
Nonetheless, the Bank's Governor, Mark Carney, is right to be worried. With house prices rising at 8 per cent, the bubble continues to expand apace. He needs to find a way of deflating it gently before it pops.
- 1 Mystery of the Siberian holes at the end of the world 'solved': Scientists offer explanation
- 2 Pope Francis issues top 10 tips for happiness
- 3 Disney heiress Abigail disowns her share of family profits in West Bank company
- 4 Israel's propaganda machine is finally starting to misfire
- 5 Sean Hannity reacts to Russell Brand's Israel-Gaza criticism: 'You're a dumb actor known for your failed marriage to Katy Perry'
Lost portraits of the Somme: 100 images of Tommies posing before they went over the top. Now can you help to identify them?
Mystery of the Siberian holes at the end of the world 'solved': Scientists offer explanation
Pope Francis issues top 10 tips for happiness
Sabina Altynbekova, the girl branded 'too good looking' for volleyball, says social media obsession with her is a 'bit much'
Ashley Cole tweets unsettling meme of him stalking ex-wife Cheryl Cole and new husband Jean-Bernard Fernandez-Versini
Land for gas: Merkel and Putin discussed secret deal could end Ukraine crisis
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
Richard Dawkins tweets: 'Date rape is bad, stranger rape is worse'
Putin is 'thuggish, dishonest and reckless', says British ambassador to US
Boozy, ignorant, intolerant, but very polite – Britain as others see us
A new Russian revolution: The cracks are starting to appear in Putin’s Kremlin power bloc
- < Previous
- Next >
iJobs Money & Business
£300 - £350 per day: Orgtel: Financial Analyst, Forecasting, Halifax, Banking,...
£500 per day: Orgtel: Business Architect - Banking - Bristol - £500 per day A...
£200 - £500 per day + competitive: Orgtel: I am currently working on a large p...
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...