 |
| Link to BBC web site |
"Bank of England governor Mark Carney has said he is concerned about the 'potential' for a UK housing market bubble, but will tighten lending requirements if necessary.
"Mr Carney said:
"There is a history in the housing market of moving from stall speed to warp speed. We want to avoid that.""Meanwhile, a survey suggested house prices will continue 'surging ahead'."
 |
| Link to BBC web site |
"Is prudential tinkering our salvation?"
"We live in a developed western world where the heuristics of economics, the normal policy responses learned through past experience, seem irrelevant.
"As just two examples, neither the US or UK economies have bounced back in the way history has suggested they should have done since the financial crash and shock of 2007-8. In the UK for example, GDP (national income) is a fifth lower than it would have been, had the pre-crisis trends resumed.
"But, as the governor of the Bank of England reminded us last night in a speech in New York, if the unemployment rate had risen as it has done in previous periods of recession and stagnation, it would today be 14% in the UK, as opposed to the current 7.6%."
No comments:
Post a Comment