"House price inflation is particularly in high
While the IMF doesn't see much evidence of a credit-led bubble at this point, it nonetheless warned that steady increases in the size of new mortgages compared with borrower incomes "suggests that households are gradually becoming more vulnerable to income and interest rate shocks".
Speaking on BBC Radio earlier, Osborne voiced agreement with IMF managing director
He told listeners that he has "given the Bank of
But a Bank of
"It's the risk from the rise from housing that we are focused on, as opposed to house prices themselves,"
"House prices may go up or down for good reasons. The question for us is are households going over-indebted, are banks over-stretching themselves too much. That's the risk which we will be trying to address," Fisher said.
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