Property News · September 15, 2018

Bank not predicting no-deal house price slump, says governor


Mark Carney says he set out to cabinet worst-case scenarios used in bank stress testsMark Carney has said the Bank of England is not predicting a property market crash in the wake of a no-deal Brexit, as he sought to clarify a doom-laden briefing given to the cabinet on Thursday.The Bank governor said a housing slump and other outcomes including a double-digit unemployment rate were worst-case scenarios used in stress tests for British banks, designed to ensure there is no repeat of the 2008 financial crisis. Continue reading…

Source : theguardian.com
Read more…Bank not predicting no-deal house price slump, says governor