March 26, 2024
United States:
US Home-Price Growth Picks Up With ‘Healthy Gains’ Across Cities
Home-price growth in the US accelerated at the fastest rate since 2022, increasing pressure on buyers after the worst year for property sales in nearly three decades.
Prices nationally climbed 6% in January from a year earlier, according to data from S&P CoreLogic Case-Shiller. That’s bigger than the 5.6% annual gain in December.
United Kingdom:
BOE’s Mann Says Markets Pricing Too Many UK Rate Cuts This Year
Bank of England policy maker Catherine Mann said financial markets are pricing in too many interest rate cuts this year and that it’s unlikely the UK will move before the US Federal Reserve.
Mann last week switched her vote on the bank’s Monetary Policy Committee from raising rates to holding them steady at 5.25%. In an interview with Bloomberg TV she said the decision was taken because the labor market is softening and consumers are spending less on discretionary services, like hotels and restaurants.
Asia:
Asian Economies Have ‘Robust’ Crisis Shields, BOJ Official Says
Asian countries are much better positioned to weather economic storms than they were in the past, thanks to strong foreign reserves and sound financial-market development, a top Japanese central banker said.
“The current Asian economy is so robust,” Bank of Japan Assistant Governor Tokiko Shimizu told a panel session on Tuesday at the Boao Forum in southern China. “Even though the US and European countries have faced high inflation, high interest rates, Asian countries almost all are in good shape.”
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