News Headlines – Thursday 7th February

Economics

In an extremely unusual move on the day before a Monetary Policy Committee announcement, Osborne yesterday lets slip his frustration with the Bank of England, calling for looser monetary policy to boost economic recovery.  The chancellor hopes that Mark Carney will persuade the BofE to take a more active stance in supporting the recovery and will outline his strategy to boost growth when he testifies to MPs today. FT, p.1. However, the FT’s Ed Crooks examines how nervousness over Canada’s outlook and falling house prices have hit the future Governor’s record. FT, p.3

Employment

Those aged 50 and over account for more than four-fifths of the sharp rise in the self-employed since 2008 the ONS has found. The number of self-employed rose 367,000 to 4.2m in the four years to April-June 2012 and represent 14% of the 29.4m. The most common occupations are taxi drivers, construction workers, carpenters and farmers. FT, p.4  Telegraph, p.12

Accountants pay has risen by more than 7% over the past year according to Marks Sattin. Average salaries rose 5% to £64,022 and bonuses rose to £11,012. FT, Exec Appointments, p.3

Property/Personal Finance

House prices grew at the fastest rate for three years in the three months to January according to the Halifax. More than £3,000 was added to the value of home over the three months and Halifax sees this growth as a sign that the government’s efforts to boost lending are a success with Funding for Lending easing credit conditions and helping to boost first time buyer numbers. The cost of a typical home stood at £162,932 last month, up £3,619 or 1.9% from October according to the bank. Daily Express, p.1,2, Daily Mail, p.18

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