Mark Carney: Bank of England will intervene to stop house price boom

Written on 11 December 2013 by Alistair Boscawen in Property News


Concerns about soaring prices in the housing market have led Governor of the Bank of England Mark Carney to indicate the bank will intervene to prevent a bubble.

Mark Carney, the Governor of the Bank of England has said the bank will move to stop the property market booming at “warp speed” – although he added that interest rates are unlikely to be raised anytime soon. He disregarded concerns about a “liquidity trap” where low interest rates would no longer be able to incentivise consumers and businesses going forward.  The Bank of England has already scrapped the Funding for Lending scheme for mortgage to cool the housing markets and Carney has said other measures will be taken if that doesn’t work. He also said that the UK trade deficit is at a “record high”, which leaves the economy exposed to the recovery of the global economy.

For more information, click on the sources below: 

The Telegraph

image from freedigitalphotos.net

 

Alistair Boscawen

Alistair has 32 years’ experience as an estate agent, starting in the country house department of one of London’s main international agencies before moving to the Knightsbridge house department of the same agency and learning the difference in values between freehold, long lease and short lease houses in Knightsbridge, Belgravia, Chelsea and Mayfair.

All articles by Alistair Boscawen

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