BoE's Chief Economist Bean cautious on rate rise

The Bank of England's chief economist Charles Bean said in a speech Wednesday there were good reasons for the long-term level of house prices in the UK to be higher, including low interest rates, an increase in the numbers of people living alone, and restrictions on the supply of new homes.

Source: Financial Times

The Bank of England's chief economist has cast doubt on the idea of raising interest rates to curb the rise in house prices and consumers' appetite for borrowing.

In a speech in Switze

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