020 7898 0500In further signs that UK consumer confidence is waning, UK house prices fell by 3.1% last month to post the biggest monthly decline since September 2010. It is worth noting that the monthly figures can often be volatile, but over the quarter they fell by 0.1% and prices are only 2.2% higher than they were a year ago. It is slightly worrying and it is hoped the UK can post some economic data that is more positive sooner rather than later.
It’s fairly quiet today for UK economic data, but tomorrow is a big one, with the balance of trade report for March and the BoE’s interest rate decision. While it is now almost certain that rates will be kept on hold, it will be interesting to see whether there are any indications on future economic policy.
