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| UK Market Update Archive: |
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BoE Holds Rates, Home Prices Fall
Jul 10, 4:14 PM EDT |
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| The Bank of England left its key rate unchanged at 5% and cited worries related to inflation forces. |
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| UK home prices fell 6.1% in June from a year ago and fell 2% from May. Home prices declined to 15-year low on tighter credit, falling disposable income and stagnant wages. Separately, FTSE 100 index dropped 2.2% as investors worried that record fuel prices and falling home values will drag economy in recession. In addition, the Bank of England left its key lending rate unchanged at 5%. Retailers fell after Goldman Sachs lowered outlook on leading retailers. |
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