The Bank of England's Monetary Policy Committee have voted unanimously to keep Bank Rate at 0.75%. The MPC said that Brexit uncertainties have "intensified considerably" since its last meeting, adding that the near-term outlook for global growth has softened and downside risks to growth have increased.
Halifax predicts house price inflation of between 2% and 4% in 2019, higher than its forecast of 0% to 3% growth for 2018. Halifax said an ongoing shortage of homes for sale and low levels of housebuilding will continue to support high prices, constraining demand. Although broad stability is anticipated, Halifax said that growth will be largely dependent on the Brexit outcome. It also noted that the housing market performed in line with its expectations over 2018, although at the lower end of its 0-3% growth forecast.
The 61-year-old had been a home and contents insurance customer with the same provider for 20 years, and was eventually paying £2,000 a year. One phone call querying the cost reduced the annual premium to £750. Now the UK's competition watchdog has said millions of unsuspecting customers were being exploited by bad practices by firms. It has responded to a so-called super complaint from Citizens Advice which argues that loyal customers are being "ripped off" for mobile, broadband, savings, home insurance and mortgage deals.
Annual house price growth fell to 0.9% in November - its lowest level since April 2012, according to the latest data. The East of England recorded negative growth on an annual basis for the first time since March 2012, but was the only region to see prices falling on an annual basis. The majority of unitary authorities continue to see growth, with prices up in 74 of the 108 in England and Wales outside of London.
Every 10 years or so a financial crisis hits global markets and its 10 years since the last one. This week the IMF warned that not only are the storm clouds of the next global financial crisis gathering, but also that the world financial system is unprepared for another downturn.