The Bank of England (BOE) is carefully monitoring rising housing prices, which is mainly fuelled by the extension of the stamp duty holiday, Deputy Governor Jon Cunliffe said in an interview with BBC late Tuesday.
Key quotes
"I think what we're seeing in the housing market at the moment is being driven mainly by the tax holiday.”
"There are some signs that people are making different housing choices and that may affect the future. It's something we're watching very carefully.”
Market reaction
GBP/USD is in downside consolidative mode so far this Wednesday, struggling above 1.4150 amid a broad US dollar bounce and UK third wave concerns.
