The Bank of England (BoE) is closely watching the UK property market boom as it could fuel upward price pressures, threatening the economic recovery after the pandemic, said the Vice Governor of the entity, Dave Ramsden, in an interview with The Guardian published Tuesday.
Featured statements:
“There is the rThe risk that demand will be ahead of supply and this will lead to a more generalized rebound in inflationary pressure. That is something that we are going to absolutely protect ourselves from. “
“We are carefully analyzing the housing market and a number of real-term indicators.”
“If it’s not temporary, we know what to do about it“.
“We can raise the bank rate from its historically low level [0.1%] and we know what that will affect demand ”.
Market reaction
GBP / USD is retreating from the three-year highs at 1.4248, hovering near 1.4225, gaining 0.10% daily.
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