Martin Taylor, an external member of the Bank’s Financial Policy Committee (FPC), said he was “astonished” by the Royal Institution of Chartered Surveyors’ suggestion last month that the FPC should cap house price inflation at an annual 5pc.
“I don’t think, personally, that it should be the FPC’s job to stop house prices going up,” Mr Taylor said at a business lunch in Wolverhampton on Monday.
“Indeed, if you have an economic recovery, rising numbers of households and very tight supply – all of which we seem to have at the moment – it would be surprising if they didn’t.”
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