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.”
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at firstname.lastname@example.org. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.