Bank of England given far-reaching macro-prudential powers over housing
Bank given authority to cap loan-to-value and loan-to-income ratios on mortgages
The Bank of England (BoE) is set to consolidate its position as the arguably most powerful macro-prudential regulator among the world's top-tier central banks, as the UK government hands it authority to cap loan-to-income and loan-to-value ratios on mortgages amid signs the country's housing market is about to "overheat".
The "big new steps" will strengthen the BoE's role by ensuring its macro-prudential arsenal is "completed", George Osborne, chancellor of the exchequer, said at his annual
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