BoE's King on asset prices and oil price impact

- Central Banking staff
- 24 Jun 2004

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In his opening statement to the Treasury Committee given on 24 June, Mervyn King of the Bank of England said when asked if it was the case that the Bank had dropped its gradualist approach: "No ... I don't think we have," adding that in any case the BoE had never said gradualism meant increasing interest rates by a quarter percentage point every three months.

"One of the main sources of uncertainties is the behaviour of asset prices: the exchange rate, equity prices and, of course, house prices,"

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