THE expected hike in ECB interest rates next month will damage the housing market further as higher borrowing costs will prevent thousands of potential buyers entering the market.

THE dollar tumbled yesterday after a survey showed prices at the US factory gate slipped in July, reinforcing a view that the Federal Reserve may not need to raise interest rates further to combat inflation.

The Bank of England today begins its 100th meeting to set interest rates with loud calls for lower borrowing costs ringing in its ears.