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View Article  Spanish house sales dive by 34%

The value of Spanish coastal properties, home to thousands of British expatriates, are heading for freefall, figures suggest

A further nail has been hammered into the coffin of the Spanish property boom as figures revealed a one-third fall in house sales and analysts predicted a slump in prices.

The statistics ...   more »

View Article  Rich look abroad for buy-to-let loans

Wealthy buy-to-let property investors are bypassing mainstream UK lenders to take advantage of the more favourable terms provided by some foreign banks.

Mortgage brokers said property buyers were preparing to re-enter the housing market as they felt prices did not have too much further to fall. But investors looking for ...   more »

View Article  Germany defies economic gloom

Evidence mounted yesterday that Germany is defying the global economic storms, with the country's central bank reporting a "surprisingly positive" start to the year and investor sentiment improving unexpectedly.

 

Europe's largest economy was sufficiently resilient to survive the headwinds "without lasting wounds", Axel Weber, Bundesbank president, said at ...   more »

View Article  Trichet talks down rate cut hopes

European Central Bank (ECB) chief Jean-Claude Trichet has talked down the chances of a European rate cut.

The US central bank cut interest rates to 3.5% from 4.25% on Tuesday to stave off a recession, and some analysts had hoped that the ECB would follow suit.

 

However, in a ...   more »

View Article  Eurozone rates kept at 4% by ECB

The European Central Bank (ECB) has left interest rates unchanged at 4%.

High oil prices and an increase in the cost of food have buoyed inflation in the eurozone at a time when economic growth is seen slowing.

 

The ECB has said inflation remains a problem, noting that December's ...   more »

View Article  ECB pumps in extra €170bn

Emergency help for financial markets has entered new territory with the European Central Bank pumping-in almost €170bn extra liquidity at below market interest rates in a special operation to head off a year-end liquidity crisis.

 

The surprise move, which followed last week’s co-ordinated barrage of measures by the world’s ...   more »

View Article  Eurozone inflation hits 6-year high

Eurozone inflation hit 3.1 per cent in November, the highest for more than six years, according to revised figures that will encourage the European Central Bank to keep talking tough on future interest rate moves.

Preliminary figures had shown an annual inflation rate of 3 per cent, up from 2.6 ...   more »

View Article  ECB chief says eurozone may suffer from banking fallout

Europe’s fledgling economic revival could suffer in the coming months as credit conditions among banks are set to tighten, the eurozone’s top central banker said yesterday.

 

Jean-Claude Trichet, President of the European Central Bank, said that growth in the eurozone could turn out to be worse than expected ...   more »

View Article  Asian subprime fears grow, Europe calmer

LONDON/SINGAPORE (Reuters) - Three Asian banks' heavy exposure to the limping U.S. home loan sector reinforced global credit jitters on Friday but Germany and Italy saw no signs of new problems.

Shares in Singapore's DBS Group Holdings, state-controlled Bank of China and its Hong Kong subsidiary, BOC Hong Kong, all ...   more »

View Article  Swedish central bank raises rates

Sweden's central bank has raised interest rates by a quarter percentage point to 3.5 per cent and adopted a more hawkish stance after indicating there would be two more quarter point increases before the year is over.

The Riksbank also raised its medium-term interest rate forecast to 4.4 per ...   more »

View Article  Prospects for eurozone growth become brighter Economic Outlook

Business sentiment in Germany remains high in spite of the increase in value added tax in January and rising eurozone interest rates.

Prospects for economic growth this year in Germany and the rest of the eurozone are improving and will be reflected in continuing strength in both the ZEW survey, ...   more »

View Article  ECB raises eurozone interest rates to 4%

The European Central Bank today raised interest rates in the 13-strong eurozone to 4% - double the level of 18 months ago.

The 0.25% hike to 4% is the eighth since the ECB first started tightening monetary policy in December 2005, after a 30-month freeze at 2%. It is likely ...   more »

View Article  Rate rises damp Eurozone mortgage lending

Mortgage lending growth in the 13-country eurozone has slowed to the lowest for more than three years as higher interest rates begin to bite, according to European Central Bank figures.

The steady deceleration in lending for house purchases over the past year will cheer the ECB, which has been wary ...   more »

View Article  Euro area annual inflation stable 1.9%

Euro area annual inflation was 1.9% unchanged compared with March. A year earlier the rate was  2.5%. Monthly inflation for April 2007 was 0.6%, illustrating that the inflation rate for the Euro area remains beneath the target figure of 2%, and is relatively stable.

For the European Union, the annual ...   more »

View Article  ECB's rates rise to 4% ‘likely’

European Central Bank council member Nicholas Garganas indicated the bank may not be finished raising interest rates in the 13-nation euro region.

“I would not say that interest rates have reached a level that could be described as a peak,” Garganas, who also heads the Greek central bank, said in ...   more »

View Article  FREE groundbreaking property investment magazine

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View Article  Markets Overview: Europe retreats after ECB rate comments

European stocks beat a hasty retreat on Thursday as the prospect of higher eurozone interest rates loomed over the market.

The European Central Bank left rates unchanged at 3.5 per cent after its policy meeting, but Jean-Claude Trichet, president, clearly signalled a quarter-point tightening next month by saying "strong vigilance" ...   more »

View Article  German economy is growing at its fastest rate since 2000

The German economy is growing at its fastest rate since 2000 and companies have begun to re-hire after five years of downsizing.

The German government will on Friday add just less than a percentage point to its gross domestic product growth estimate for this year, underlining the robustness of the ...   more »

View Article  Dominic Farrell - Global interest rates, Eastern Europe and Cyprus

Another busy, but enjoyable week goes by.  Monday we had an evening seminar in Liverpool which was well attended with some investors flying in for the night – a classic “Ryanair effect”  I had 2 days in London, on the radio for one of them which I enjoyed ...   more »

View Article  European Central Bank raises rates to 3.25%
European Central Bank rasies rates by 25bps to 3.25%   more »
View Article  Market Preview: ECB expected to raise rates this week

The latest interest rate decisions by the Bank of England and the European Central Bank, due on Thursday, provide the central events of interest this week but there will be plenty of economic data for investors to absorb.

The ECB is widely expected to raise eurozone rates to 3.25 per ...   more »

View Article  European Central Bank hints at interest rate rises

The European Central Bank stepped up its inflation warnings on Thursday as it hinted strongly that interest rates would rise in October, and probably again in subsequent months.

Jean-Claude Trichet, the bank's president, announced significant upward revisions to the ECB's inflation forecasts for this year and next. He said "strong ...   more »

View Article  Central Banks act to curb inflation

Reacting to fears of rising inflation, central banks across the world raised interest rates this week.

Australia raised rates to 6 per cent and the Bank of England unexpectedly raised its main rate to 4.75 per cent. Jean-Claude Trichet (above), European Central Bank president, followed shortly afterwards with a move ...   more »

View Article  UK, US and Eurozone interest rates outlook

The European Central Bank is set to step up the pace of monetary tightening this week with a rise in eurozone interest rates widely expected but the UK rate decision is a much closer call.

The latest data received by the Bank of England showed rising headline inflation, strong retail ...   more »

View Article  European Central Bank keeps interest rates at 2.75%

The European Central Bank held its main refinancing rate at 2.75 per cent on Thursday, a move widely expected in the wake of June’s quarter-point rate rise.

The decision had been predicted by all but one of 23 forecasters surveyed by Bloomberg, despite a gathering consensus that the Frankfurt-based bank ...   more »

View Article  European Central Bank raises interest rates to 2.75%
European Central Bank raises interest rates to 2.75%   more »
View Article  The Jet-to-Let Bible reaches Amazon bestseller spot before publication

The Jet-to-Let Bible: the secrets of overseas property investment has stormed to Number 1 Bestseller in its category on Amazon, even before a single page has been printed.  It is also in the top 10 of all property investment books, beating such notables as Donald Trump.

 

The book, ...   more »

View Article  European Interest Rates Rise by 25 basis points

The European Central Bank today raised its main refinancing rate by a quarter of a point to 2.5%, following up a previous rise in December, the bank’s first for five years.

Most economists expect eurozone rates to rise to 2.75% or 3% by the end of 2006 as inflationary pressures continue to ...   more »

View Article  European Interest Rates - Time to check your cashflow forecast for 2006

Eurozone bonds react to interest rate speculation

For those of us with Euro denominated mortgages, it’s time to get the calculators out to check our cashflow.

Government bonds fell in ...   more »

View Article  Economic Growth in Eurozone may prompt a rise in interest rates

Britain, France and Germany will grow faster than expected this year, Joaquin Almunia, EU monetary affairs commissioner, said on today.   Mr Almunia predicted that European Union growth would ...   more »