Governor Prepared to Act on Housing Bubble

‘Mark Carney has signalled that he is prepared to act to prevent a housing bubble getting out of control as he delivered his first speech as Governor of the Bank of England.

The Bank could use new tools to recommend that banks and building societies “restrict the terms on which new credit is provided, or even to raise capital requirements on mortgages or other types of lending”, he told business leaders in Nottingham.

Mr Carney added: “The Bank is acutely aware of the risk of unsustainable credit and house price growth and will be monitoring it closely. The important thing to recognise is that we now have tools other than interest rates that can be used to contain risks in the property and financial sectors. We are now fully prepared to deploy them if that were needed.”‘

Sources: The Daily Telegraph, Financial Times, The Independent

NICOLA HALL

BILSHAN MENSAH

Sam Inkersole

In 2022, Sam won the Taxation’s Rising Star award at the Taxation Awards in and was named in the Accountancy Age 35 Under 35.

Jon Wedge

While Jon’s client work focuses on the financial services sector, he also oversees the firm’s assurance service, as well as supporting the trainees following in his footsteps.

ELANA DIMMER

Elana joined us in 2017 as an ACA trainee, after graduating from Durham University where she had studied languages. She is now a manager in our assurance team.

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