(1888PressRelease)
January 06, 2009 - “Guardian Worldwide” analysts have been receiving reports that Europe will weather the economic slowdown better than the UK, leading to speculation that the Bank of England may be pushed into a further reduction in interest rates from 2%, its current level.
Figures indicating that homeowners are less inclined to spend, opting in favor of repaying existing home loans and mortgages, have resulted in pushing Sterling lower in the currency market, and many believe that one Pound equaling one Euro is only a matter of time, according to sources close to “Guardian Worldwide”.
Homeowners are not as eager to borrow money against the value of their property and are more inclined to use any income to pay off mortgages than spend, indicating that property prices will fall in 2009, in excess of 10% as some property consultants have predicted.
‘As people realize that prices are dropping, they are holding off on making any major purchases until the current financial climate is more stable’ reports a senior analyst close to “Guardian Worldwide”.
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