Rolling coverage of the latest economic and financial news, as Nationwide reports house prices fell in September
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
Annual house price growth across the UK has halved, according to lender Nationwide this morning, as rising mortgage rates cool the market.
“Market activity and house prices have remained subdued in recent months, in part reflecting the uncertain economic backdrop. Geopolitical tensions remain high, with the conflict in the Middle East exerting upward pressure on energy prices, fanning inflation concerns.
This in turn has led to mounting financial market expectations of Bank Rate increases, which has maintained upward pressure on the market interest rates which underpin mortgage pricing.
7am BST: Nationwide’s house price index
9am BST: Eurozone manufacturing PMI for September
9.30am BST: UK manufacturing PMI for September
10.30am US Challenger Job Cuts
3pm BST: US manufacturing PMI for September
