House Prices, Household Debt and Monetary Policy

Nickell, Stephen

Download This Paper

Open PDF in Browser

Add Paper to My Library

House Prices, Household Debt and Monetary Policy

Bank of England Quarterly Bulletin, Spring 2003

6 Pages Posted: 27 Apr 2005

See all articles by Stephen Nickell

Stephen Nickell

Bank of England - Monetary Policy Committee; University of Oxford - Nuffield Department of Medicine

Abstract

In this speech, Stephen Nickell, a member of the Bank's Monetary Policy Committee, addresses the question: should we keep interest rates higher than would be required to hit the inflation target during 2004 in order not to encourage further debt accumulation and increases in house prices? He argues that the right answer to the question is no.

Suggested Citation: Suggested Citation

Nickell, Stephen and Nickell, Stephen, House Prices, Household Debt and Monetary Policy. Bank of England Quarterly Bulletin, Spring 2003, Available at SSRN: https://ssrn.com/abstract=707085