Bank of England Governor Mark Carney shifted closer to reining in surging U.K. home prices by branding them the No. 1 risk to the economy and listing potential policy responses.
In his most forthright warning yet over the property market, Carney said policy makers “could do more” to tackle excesses if needed. Options include imposing more checks on the affordability of mortgages, limiting types of loans or advising the government to rein-in its Help to Buy program.
“All those things are possibilities and we will consider them all,” Carney said in an interview with Sky News’s “Murnaghan” show yesterday. “The biggest risk to financial stability, and therefore to the durability of the expansion, those risks center in the housing market and that’s why we are focused on that.”
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