BUSINESS LIVE: Playtech strikes deal with Calipay; Phoenix Group shelves Sun Life sale; Close Brothers CEO on temporary leave

Optimistic home sellers added almost £3,000 to average asking prices after the Bank of England cut interest rates.

Rightmove said sellers are gaining confidence in the autumn property market, pushing up the average price tag on freshly listed homes by £2,974 to £370,759.

Domino’s have announced plans to hire 5,000 more workers ahead of the festive season.

The fast food pizzeria is expecting an increase in demand over the upcoming Winter months.

Susannah Streeter, head of money and markets at Hargreaves Lansdown, comments ahead of the Federal Reserve’s next interest rates decision:

Investors remain split about the size of the Fed rate cut, which the policymakers are expected to deliver.

More bets are being put on the likelihood that there may be 50bps reduction announced, which has pushed down the dollar slightly, in an extension of its recent losses.

Even if a smaller rate cut is delivered, it’ll raise expectations for a more aggressive loosening of policy in November and December, with 100bps of rate reductions by the end of the year priced in by markets.

We are set to see the start of an eager easing cycle, given that inflation is heading towards target and demand is being squeezed out of the economy.

A quick succession of cuts is expected, to try stop the slowing US economy going into reverse.

Big tests lie ahead if the Labour Government is to drive growth by bulldozing planning restrictions and setting housing targets. Fortune is on its side. The fall and long pause in property values and rent yields, caused by the pandemic and working from home, is unwinding.

Interest rates are heading down, making borrowing more affordable. Risk averse quoted real estate companies are being more adventurous particularly in the ‘golden triangle’ of London, Oxford and Cambridge.

The US central bank is poised to slash interest rates this week but UK policymakers are expected to be more wary.

The Federal Reserve is tipped to make a cut on Wednesday – the first time since 2020.