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Bank of England FPC differed over right mortgage lending cap

From uk.reuters.com

Bank of England policymakers differed over the best level at which to set a cap on how much banks can lend relative to a home-buyers' income, a record of their June 17 discussion showed on Tuesday. The record also revealed for the first time discussions between the BoE and Britain's finance ministry dating back to September 2011 over how to protect against the risk of a euro zone break-up. The BoE kept the discussions under wraps until now to avoid alarming markets, and latterly until relevant legislation to wind up banks without taxpayer aid had been put in place. Last week the BoE imposed its first limits on how ... (full story)

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