Saturday, Jun 14, 2008
Prevention is better than cure.
Daily Telegraph: Bank of England may not be able to 'mop up' on house prices
The "nasty" inflation shock of recent months means the Bank of England may not be able to "mop up" if house prices slump sharply, one of the Bank's leading authorities has warned.
Paul Tucker, the Bank's executive director for markets, questioned the Alan Greenspan doctrine that central banks should not attempt to stop bubbles but merely to clean up the mess after they burst, in comments which may undermine hopes that the Monetary Policy Committee will slash borrowing costs if house prices slump further.
Posted by dave spart @ 03:20 AM (121 views) Add Comment
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