UK Property Market Stable

65k mortgage approvals for house purchase in June, pretty much unchanged from May. Sign the UK housing market continues to tread water. pic.twitter.com/RgPyEpcCVK

— Rupert Seggins (@Rupert_Seggins) July 31, 2017

Happy 323rd Birthday To The Bank of England

It’s our 323rd birthday, we made a dancing cake to celebrate. #whynot pic.twitter.com/SxLzCQr4rD

— Bank of England (@bankofengland) July 27, 2017

UK Q2 Growth 0.3%

Growth in Q2 was 0.3%, significantly better than the Treasury's doom and gloom forecast borne out of Project fear!

GDP Would Need to Collapse 5% in Next 12 Months to Meet Osborne's Treasury Predictions: https://t.co/LJHB69DlHw pic.twitter.com/vaFYABQvPw

— Guido Fawkes (@GuidoFawkes) July 26, 2017

• The growth in Quarter 2 2017 was driven by services, which grew by 0.5% compared with 0.1% growth in Quarter 1 (Jan to Mar) 2017.
• The largest contributors to growth in services were retail trade, which improved after a fall in the first quarter, and film production and distribution.

A Lesson In Economics

Lord Reed even gives Govt a stern rebuke over economic literacy. You can almost hear him saying "this won't do, rewrite it by tomorrow." pic.twitter.com/xnaBOE9Ukm

— Matthew Scott (@Barristerblog) July 26, 2017

IMF Cuts UK Growth Forecast From 2% To 1.7%

IMF cuts 2017 UK growth forecast to 1.7% from 2%, the biggest downward revision this year of all major economies. pic.twitter.com/48gEFXGwUo

— Jamie McGeever (@ReutersJamie) July 24, 2017

However, it should be borne in mind that IMF forecasts are invariably shite (the fact that they revised the forecast is a clue) as this chart from 2014 shows:

Card Surcharges To Be Banned

As from January next year, businesses will not be allowed to add any surcharges for card payments.

This follows a directive from the European Union, which bans surcharges on Visa and Mastercard payments.

However, the government has gone further than the directive, by also banning charges on American Express and Paypal too.

This covers all companies and organisations that add a surcharge, including HMRC!

You can bet your bottom dollar that companies will find another way to pass on the charges.

Inflation Falls To 2.6%

The ONS reports that the Consumer Prices Index (CPI) 12-month rate was 2.6% in June 2017, down from 2.9% in May 2017.

This is the first fall in the CPIH inflation rate since April 2016, and was caused primarily by falling prices for motor fuels and certain recreational and cultural goods and services.

This means that there will be no increase in interest rates in the foreseeable future.

Piss Pathetic Pensions

Wow. 8 million with 1.56% of their average earnings going into a pension. About a tenth what's needed for even an adequate retirement! https://t.co/LZ4bNDDtR4

— Paul Lewis (@paullewismoney) July 11, 2017

Bank of England Wants People To Sniff Out Regulation Busting

"Firms should expect supervisors who have their 'eyes peeled', their 'ears to the ground' – and who 'can smell when something is off'." https://t.co/Bj0BjStp9W

— Katie Martin (@katie_martin_fx) July 10, 2017

G20 Minus 1

The G20 is now the G19 as America has placed itself into isolation.

Bank of England To Go On Strike

Unite says Bank of England workers are to stage a four-day strike from 31 July in a dispute over pay

— Sky News Newsdesk (@SkyNewsBreak) July 3, 2017

Does this mean that all debts held during this period will be interest free?