Job worries could lead to market slowdown

27-Jun-2007

Increasing concerns over job security could ultimately lead to a market slowdown, but in the meantime are simply providing a further financial worry for first time buyers, it has been suggested.

The latest consumer barometer from Lloyds TSB Corporate Markets has found that four out of five UK consumers believe that interest rates will rise again, and consequently have become more concerned over their job security.

The report comes as deputy governor of the Bank of England Sir John Gieve said that he had voted for a rate rise this month, adding that the base rate may have to be increased in order to compensate for the boom in loan and credit demand.

"I voted for a further increase earlier this month partly because I was not convinced that current rates would be sufficient to bring credit growth and nominal demand back to their long-term sustainable path," Sir John commented.

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