United Kingdom: House Price Gap Widens
As The Guardian reports, Nationwide’s latest report shows that London house prices have surged by 18% over the last year in London, whereas the national average of has risen 9.2%, nearly a half. That’s the strongest annual price rise in a decade. While the typical UK property now costs £180,264, the average London house price is now £362,699.
Eurozone: ECB’s Constancio Says No Deflation Seen As Recovery Gains
As reported by Bloomberg, “the euro area will probably avoid outright deflation as a “soft” economic recovery gradually reduces spare capacity in the economy,” European Central Bank Vice President Vitor Constancio said. Moreover, he added that April inflation is expected to correct March’s deceleration.
Japan: Japan Firms Doubt BOJ Price Targets, New Stimulus Seen
Reuters reports that according to a Bank of Japan tankan survey, businesses expect inflation of 1.5% inflation in a year. The finding is a sign of how difficult the Central Bank could find meeting its inflation target of 2.0% by April 2015. In addition, the survey showed that firms expect consumer prices to rise only 1.7% three years from now.
Eurozone: Unemployment Stays High In Eurozone
The New York Times reports that the labour market in the Eurozone stays weak as unemploment rates increased in Italy and France. The unemployment rate of the Eurozone was 11.9% both in January and February.
Chile: Chile Earthquake: Rush To Evacuate Coast After Tsunami Warning – Live
The Telegraph prepared a timeline of the events following the powerful earthquake that struck off the northern coast of Chile, which provoked a tsunami alert. Chile is the world’s largest copper producer.