Bank of England cuts interest rates

first_imgFalling house prices and a dip in consumer confidence are thought to have led to the move. On Tuesday, the Halifax, Britain’s largest mortgage lender, posted an average 2.5% fall in house prices since February, the largest monthly drop since the crash in the 1990s. Reacting to the rate cut, Neil Chegwidden, head of residential research at Jones Lang LaSalle, said: ‘Although the decision to cut by a quarter point will probably feel like quite a bold move by the MPC, we do not believe that it will make much, if any, difference to UK homeowners in the short-term. ‘Looking forward, today’s base rate cut is unlikely to halt this steady decline in average UK house prices or the deterioration in household finances and confidence. We believe that it will take further and stronger action by the MPC before homeowners and consumers get even a whiff of a return to any feel good factor in the coming months.’Muted effect Atisreal’s head of research Keith Steventon added: ‘The decision by the MPC to cut interest rates recognises the severity of the economic slowdown we face. Unfortunately its effect is going to be muted. There will be little benefit for borrowers. The restrictions being placed by mortgage lenders has little to do with base rate and more to do with the loss of liquidity in the financial markets and the perceived risk of 100% and related mortgages. Nor will it help the commercial property market. So far as the investment market is concerned we need buyers to feel confidant that the floor has been reached or even passed and that the only way is up. We then need sellers to accept that prices are where they are.’On top of all this, interest rate cuts are a crude tool to use. They are imprecise in their effect and take 18 months to more to show any significant effect.’last_img read more

The fellow move to the ‘Chelsea’ team for £ 71 million

first_imgEngland’s Premier League club Chelsea in London officially closed the acquisition of German midfielder Kaja Haverc on Friday with a five-year contract. Content will continue after the ad Advertising Bayer, a 21-year-old footballer previously represented by Leverkusen, received £ 71 million (approximately € 79.6 million) for him.Havercs has become Chelsea’s second most expensive purchase – yesterday, goalkeeper Kepa Arisabalaga was bought for 71.6 million pounds.The young footballer has been in the Bayern system since the age of 11. As part of the Leverkusen team, he went on the field in 118 games, scoring 36 goals and scoring 25 times.Last season he had 18 goals in 45 games. The footballer was also in good shape after the resumption of the season, standing out eight times in this match in 11 matches.Havercs has become Frank Lampard’s seventh player this summer. Prior to that, Chelsea was joined by striker Timo Werner, midfielder Hakim Zijeh, and defenders Javier Mbujamba, Malang Sarr, Ben Chillwell and Tiagu Silva. The London club has spent almost £ 200 million on deals this off-season.last_img read more

Saban Quaye: player sabotage is real

first_imgTeam Manager for Ghana premier league side Liberty Professionals, Sylvester Nii Saban Quaye says the practice of football players sabotaging their coaches exists.The perennial issue of players ganging up to derail the efforts of their coaches has more often than not been an issue of hearsay but has become ripe in the ongoing Glo premier league, Medeama FC coming up for mention after the compulsory leave given to Coach Bashiru Hayford.However experience Team Manager believes it is real and not anybody’s figment of imagination.In an interview on Asempa Sports Morning Show on Tuesday, he explained that the major reason that is mostly assigned to such behaviour is preferential treatment given to specific players.According to him when some players feel they are been side stepped for some individuals; they normally gang up to deny the team of good results.He admitted that the repercussions for the team are always not good for any of the players but since it is a collective decision they normally do not see it as such. When asked how best we can solve those issues he said the danger of the practice is that it is normally a collective act so it is always difficult to deal with it.He revealed that the situation was more rampant when he was with Accra Hearts of Oak but he does not know if it still exists.last_img read more

Tyson Fury stuns landlord by knocking on local pub to borrow a special pint glass before ‘jogging three miles home’

first_img Amazing movies best funny animals Real or Fake? Shark Attacks Helicopter People Slammed By Massive Waves 4 Rebekah Vardy scores an impressive penalty in six-inch heels 10 INCREDIBLE Space Launch Failures! TYSON FURY left a landlord lost for words when he knocked at his pub to borrow a special pint glass.The WBC heavyweight champion found exactly what he was looking for – then casually jogged three miles home.Tyson Fury grinned as he posed for a picture with pub landlord Bill JohnstonCredit: Facebook / The Canal TurnFury, 31, was on a mission to get himself a new glass to replace the one he had broken at his home.The Gypsy King wanted one with a widget at the bottom – which boosts the amount of bubbles in the drink.And he hit the jackpot when he stumbled across The Canal Turn pub in Lancashire.Star-struck landlord Bill Johnston shared a snap of himself alongside the heavyweight champion to Facebook.Alongside it, he wrote: “When the heavyweight champion of the world knocks on the door to the pub to ask for a couple of glasses.“Random! Nice guy – and Tyson said he’ll be calling in when we’re open!” When asked how Fury got into the beer garden, the landlord replied: “He just slipped under the tape no bother. It was quite funny.“He was after a pint glass with a widget in the bottom as he’d dropped his at home.“Was happy to help then he just jogged off again the two or three miles home.”Tyson Fury found exactly what he wanted at the pub in LancashireCredit: Facebook / The Canal TurnFury has been keeping fit while on lockdown with daily Instagram training sessions with wife Paris.Halfway through Wednesday’s session, the unbeaten boxer sent a spine-tingling message to rival Anthony Joshua.And Fury was spotted as he took his mountain bike out for a spin at the weekend.Tyson Fury training through pain barrier with brutal Instagram home workouts as Deontay Wilder trilogy prep continues center_img Source: Boxing – REAL vs FAKE GOLD Top 5 Best Budget Hotels In Dubai under AED 400 a night. Travel Diary // Vietnam 2017last_img read more