
Australia Monthly Inflation Jumps to 6.8%, Raising Rate Pressure
Australian inflation accelerated, snapping three months of easing, sending government bond yields higher as traders fretted about potentially another interest-rate increase next week.
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Australian inflation accelerated, snapping three months of easing, sending government bond yields higher as traders fretted about potentially another interest-rate increase next week.
Now that all major Canadian banks have released their most recent quarterly earnings, one analyst said he is concerned about the health of Canada’s housing market due to the impact it could have on consumers.
Record net migration into the UK drove property rental costs up by as much as 7% and could be behind the manic market facing tenants in London, according to economists at Capital Economics.
Home prices rose for a second straight month as buyers returning to the market competed over few homes for sale.
UK lenders are removing mortgage deals from the market again as fresh increases in rates make loans more costly.
Dec 29, 2021
Bloomberg News
,Canadians are the most confident in more than three years that real estate prices will continue to rise, according to weekly telephone polling, a positive signal for the recovery.
About half of respondents, or 49.2 per cent, see home prices climbing over the next six months, the highest share since May 2017. That helped lift the Bloomberg Nanos Canadian Confidence Index, a composite measure of financial health and economic expectations, to 55.1 last week, levels last seen in early March.
It’s been nine months since Canada first shut down its economy to contain the spread of COVID-19, leading to a record plunge in consumer confidence. The index began to recover over the summer but a second wave of virus cases put the brakes on that.
However, the vaccine rollout that began this month in Canada is stirring hopes that the pandemic’s end is near even as case counts continue to rise. Two of the largest provinces, Ontario and Quebec, have tightened restrictions to try to control the spread.
Record-low interest rates and strong demand for more spacious accommodation are pushing Canadian home prices and sales to record highs this year. Prime Minister Justin Trudeau’s government has pledged to keep the fiscal taps open to support the recovery, and the income support measures have left households flush with cash.
“Consumer confidence in Canada continues to gain strength with news on vaccines,” Nik Nanos, chief data scientist at Nanos Research, said in the report. “Forward perceptions on both the strength of the economy and the value of residential real estate gained a full five percentage points in the past four weeks of tracking.”
Every week, Nanos Research surveys 250 Canadians for their views on personal finances, job security, the economy and real estate prices. Bloomberg publishes four-week rolling averages of the 1,000 responses.
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