We have 18 days to go to get some very important economic data. Growth will be positive, how positive will determine when Interest Rates rise.
If growth is much better then expected, then rates will rise in October , if its lower of equal to the expected level, we can forget interest rate rises this year.
The housing market is totally flat, but that in itself is an improvement!!
I personally do not see house prices moving down at all, I think we have hit the bottom and we are scraping along.
Talking of bottoms, has anyone seen Bad Teacher??
Sorry, I digress.
Unemployment is falling and inflation is holding at 4.5%, the RPI ( Retail Price Index) which includes mortgage interest payments was unchanged at 5.2%.
We are at a crossroads, but I feel we have more reason to be optimistic then pessamistic.
