U.K. mortgage approvals fell in May
Already Mac 16 Color Fascination Lipgloss Palette USA Fashion plagued by a repeat recession, the Bank of England may bolster its asset-purchase program after Governor Mervyn King said last week that Europe’s debt turmoil has stoked uncertainty and tightened credit availability. U.K. mortgage approvals fell in May and construction ouput contracted at the fastest pace in 2 1/2 years. Inflation slowed to 2.8 percent in May, the closest to the central bank’s 2 percent target since November 2009. The U.K. economy Mac Dazzleglass Brillant A Levres Wholesale 2011 Fashion will expand just 0.1 percent this year, according to the British Chambers of Commerce. Temptation to Act While 30 of 41 economists in the Bloomberg survey predict a 50 billion-pound increase in the Bank of England’s asset- purchase target, eight anticipate it will add 75 billion pounds. The bank will leave its key rate at a record low of 0.5 percent, according to 49 of 50 economists in a separate survey. “Given how inadequate growth is perceived to have been, the temptation to do a bit more will be there,” said Neville Hill, an economist at Credit MAC Cosmetic Lipglass Incolor Cheap For Wholesale Fashion Suisse Group AG in London.