News headlines – Friday 8th February 2013

Economics:

Mark Carney’s first meeting with the Treasury Select was front page news with City AM and the FT. He has stressed the need to scrap the inflation target, and pledged to make sure monetary policy would remain expansionary until growth returned. However, Carney also favours a much tighter leverage ratio for UK banks, a factor he believes helped Canada through the financial crisis.  FT, p.1, City AM, p.1

Employment:

Demand for staff last month rose at its fastest rate for nearly two years, according to REC and KPMG. Permanent appointments were up for the 4th month in a row, while growth in starting salaries hit its highest in 16 months. FT, p.2; Telegraph, B4.

Property:

Buy-to-let mortgage deals are at their lowest level in six years. The average fix is now 4.69% according to Moneyfacts, the lowest on their records. This fall in the cost of finance comes at a time when rents are close to record highs, according to LSL Property Services, and the greater tenant demand in the market place is giving lenders more confidence in the sector, leading to more flexible deals. Times Bricks & Mortar, p.14

Personal Finance:

Financial education will be taught in all schools by 2014, under plans put out for consultation by Michael Gove. It will include lessons on budgeting, debt, tax, and financial risk, City AM, p.18

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