the chief executive of barclays bank does not so far see a repeat of the 19905 property crash. but is the response more benign these days? what is going on? i think the response has been more benign. first of all people have jobs and second people are finding value for money, managing theirfinances people are finding value for money, managing their finances well and controlling their spending. and thirdly is that the banks and we are very committed, we are not seeing signs of stress but we are committed to helping people who may believe they may have difficulty meeting their mortgage. they may have difficulty meeting their mortgage- their mortgage. lenders are stretching their mortgage. lenders are stretching the their mortgage. lenders are stretching the length - their mortgage. lenders are stretching the length of - their mortgage. lenders are| stretching the length of their mortgage and offering mortgage holidays and trying to be flexible but that will only go so far as rates c
of fixed rate mortgages has effectively been reflecting a judgement in the financial markets that inflation in this country will stay higher for longer and therefore require higher interest rates for a year or two. more evidence for that from the wages data today going up by a joint record over the past year. all eyes are now on critical inflation figures next week and a new decision from the bank of england likely to raise rates again early next month. right now the markets are deciding for themselves. the chief executive of barclays bank does not so far see a repeat of the 1990s property crash. but is the response more benign these days? what is going on? i think the response has been more benign. first of all people have jobs, and second, people are finding value for money, managing theirfinances well and controlling their spending. and thirdly is that the banks, and we are very committed, while we are not seeing signs
In Sweden, the property market has crashed. It s the same story in Australia, Denmark, New Zealand and a host of other countries. So what about the UK?
Beijing this week slashed interest rates to boost demand after its zero-COVID policy and a property crash rocked the economy. China's woes will hurt global growth but could also help to cool inflation.