UK Labour Party floats idea of house price target for BoE

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The UK’s opposition party is considering giving the Bank of England a house price inflation target should it assume power in the future.

The Labour Party’s shadow housing secretary, John Healey, has proposed giving the central bank a 2% target for house price inflation in addition to tougher macro-prudential powers, which would target mortgage lending.

The proposal was reported in the Guardian, but was confirmed to Central Banking by a member of Healey’s team.

Unlike some countries, in the UK

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