Pursuits
BOE's Cunliffe Sees Case for Action If Credit Growth Accelerates
- Deputy Governor would want to act `sooner rather than later'
- Says buy-to-let lending may also pose stability risks
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Bank of England Deputy Governor Jon Cunliffe said a rapid growth in lending could increase stability risks and warrant action by the central bank.
Cunliffe highlighted pockets of concern including household debt levels and buy-to-let lending. His comments, at a conference in London, underscore policy makers’ increasing reliance on macroprudential tools, having signaled interest rates are set to stay low for sometime.