GBPCHF;PM SUNAK TO ATTEND SUMMIT
The British-Irish Council summit will be attended for the first time in 15 years by UK Prime Minister Sunak. On Thursday, the Tory leader will also meet with his counterparts from Scotland and Wales to repair relations.
According to Bloomberg, the UK government is also in favor of reducing the surcharge on bank profits to 3% in order to maintain the sector's competitiveness.
A survey released on Thursday, British home prices dropped in October for the first time in 28 months, and the rising cost of mortgages threatened to further stress the real estate market.
The October reading was the first negative reading after 28 positive monthly readings, showing that national house price growth was "grinding to a halt," according to RICS.
While economists anticipate that the recent calm in the financial markets may offer some relief, it may be premature to predict that lending rates will decline.
According to Bloomberg, the UK government is also in favor of reducing the surcharge on bank profits to 3% in order to maintain the sector's competitiveness.
A survey released on Thursday, British home prices dropped in October for the first time in 28 months, and the rising cost of mortgages threatened to further stress the real estate market.
The October reading was the first negative reading after 28 positive monthly readings, showing that national house price growth was "grinding to a halt," according to RICS.
While economists anticipate that the recent calm in the financial markets may offer some relief, it may be premature to predict that lending rates will decline.
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