Tuesday, July 05, 2005

What Could Happen Here.

Concerns are starting to mount in the UK that the softer house prices there are leading to reduced consumer demand for other goods.

"Some of Britain's most senior business leaders are calling for an urgent cut in interest rates, putting pressure on the Bank of England ahead of the latest meeting of the monetary policy committee, which begins on Wednesday.

Sir Digby Jones, CBI director-general, will tell a business audience in Merseyside that new figures showing the worst year-on-year retail sales decline in 22 years, growing corporate concern over weak profits and signs of housing market decline make this the ideal time for a rate cut."



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