Chancellor of the Exchequer George Osborne will name Charlie Bean’s replacement as Bank of England deputy governor for monetary policy tomorrow, according to a person with knowledge of the matter.
U.K. house-price growth cooled in February as pent-up demand from potential buyers previously shut out of the market eased, according to the Royal Institution of Chartered Surveyors.
The U.K. government will probably cut off a lending policy that lets homeowners refinance mortgages as house prices surge, according to a survey of mortgage lenders and brokers.
U.K. house-price growth accelerated in February to the fastest in almost five years as the economic recovery strengthened, boosting demand for property.
Bank of England policy makers extended unprecedented stimulus into a sixth year today as they seek to ensure the economy fully recovers from the damage wrought by the financial crisis.
Bank of England Chief Economist Spencer Dale said policy makers will probably face a “healthy” split on when to raise interest rates as the current consensus erodes on inflation risks posed by Britain’s recovery.
Bank of England Governor Mark Carney’s overhaul of his forward-guidance policy is penalizing U.K. government bonds relative to their U.S. and European peers.
Britain’s property-market rebound is benefiting the economic recovery and doesn’t yet pose a risk, said Bank of England Chief Economist Spencer Dale.
U.K. mortgage approvals and house- price growth increased to the most since 2007, as the property market continued to accelerate at the start of the year.
U.K. house-price growth accelerated in February to the fastest in seven years as London led a recovery that’s spreading across the country.
"We're fully alert to that risk."
- Spencer Dale on Mar 02, 2014