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FSA chairman calls for direct controls on the supply of credit

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Britain’s top financial regulator, Lord Adair Turner, said today there was a need for direct controls on the supply of credit to prevent the build-up of dangerous asset price bubbles.

Turner said policymakers needed more than interest rates to tame asset price booms and urged the setting of a new macro-prudential body in the UK able to take pre-emptive action.

Speaking in Davos, the chairman of the Financial Services Authority called for a committee that would combine the insights of central bankers and regulators, with input from outside maverick economists to avoid the risk of “group think”.

Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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