Bank to supervise housing plans
George Osborne is to give the Bank of England a greater check over the government's Help to Buy scheme to ensure it does not fuel a housing boom. The Bank will make annual reviews, rather than every three years.
Carney: Bank should be 'vigilant' on housing market
Bank of England Governor Mark Carney has said the housing market has seen a turnaround, although he has urged caution over the speed of the improvement.
In an interview with the Yorkshire Post, he said the Bank should remain "vigilant" as levels of activity on the property sector are only at two-thirds of the rate compared to longer-term figures for the sector.
He said: "The core of the recovery is not housing, but that said, the prospects and level of activity in housing have turned from low bases and we as the Bank of England need to be vigilant about how those dynamics move in the future.”
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