U.K. inflation fell to its lowest rate in 4 1/2 years in May as food and transport costs declined, providing Bank of England policy makers breathing space over interest rates.
London house prices rose at their fastest pace since just before the panic at Northern Rock Plc marked the start of the financial crisis in the U.K.
European Central Bank President Mario Draghi signaled policy makers are ready to take action in June should they see low inflation becoming entrenched.
Europe’s economy would be hurt by a sustained disruption to air travel caused by last week’s Icelandic volcanic eruption, said economists at Goldman Sachs Group Inc. and IHS Global Insight.
"There is a desire to have a decent amount of properties available to rent because a lot of people can't afford to buy houses."
- Howard Archer on Jul 15, 2014