BoE introduces ‘ground-breaking' macro-pru measures to prevent housing bust
Carney unveils cap on high loan-to-income mortgages and affordability test
The Bank of England (BoE) today announced macro-prudential actions to stem the build-up in household debt amid a London property boom that some believe could force the bank to raise interest rates prematurely.
BoE governor Mark Carney conceded the measures will have no effect so long as the economy develops along the path the BoE has predicted – but the move was nevertheless described as "very significant" by lawmakers.
The bank's Financial Policy Committee (FPC) asked the Prudential Regulation
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