The U.K. economy probably has more spare capacity than the Bank of England’s main calculations show, policy maker David Miles said, highlighting a key area of divergence among officials.
Bank of England policy maker David Miles said the lingering impact of the financial crisis on investment decisions means policy makers may have to limit how high they increase their key interest rate in the coming years.
Bank of England policy maker David Miles said that the U.K.’s economic recovery has faltered and the housing market is undergoing an “extraordinary period of adjustment.”
Bank of England official David Miles said policy makers will only use interest rates as a last resort to cool Britain’s housing market if it begins to overheat.
"The latest indicators are that things are cooling a little bit in London, prices were rising very rapidly."
- David Miles on Aug 13, 2014