‘Spencer Dale, the Bank of England’s director of financial stability, has said that the BoE cannot curb rapidly rising house prices and will not attempt to do so.
Mr Dale also said that a package of lending measures recommended by the FPC last week are “insurance for the country’s housing market”. He added that the new regulations would allow the MPC to “not be distracted” by the housing market and set interest rates that accord with the pace of the recovery.’
Source: The Daily Telegraph