Bank of England won't let UK housing hit warp speed-Carney
NEW YORK Dec 9 (Reuters) - Bank of England Governor Mark Carney said the central bank was concerned about where Britain's housing market might head but it had tools to prevent the recovery from hitting "warp speed."
"We're concerned about potential developments in the housing market," Carney said in response to a question after making a speech to the Economic Club of New York.
He said activity in the housing sector was lower than before the financial crisis and bank underwriting standards had been "substantially transformed."
"But there is a history of things shifting in the UK and the housing market of moving from stall speed to warp speed and underwriting standards slipping. So we want to avoid that," Carney said.
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