Finance Executives Worried by Overheating Housing Market
A survey by the Bank of England shows that a large percentage of financial executives are concerned by the overheating housing market in the UK, with 40% saying that falling house prices is the greatest risk to stability. Prices in London particularly are dangerously high, driven by purchases by foreign investors, and if the bubble bursts it would be a disaster for the UK’s recovery. Read the full story.
Bank Chief Says We Need Risk
Reserve Bank of Australia Governor Glenn Stevens has been speaking to delegates at a banking conference in the US and has called for regulations and banking reform to be sorted out swiftly to avoid being caught unaware by the next financial crisis. Mr Stevens said that learning lessons from the past, and getting the structures in place to enable banks in particular to better cope with crises should be a priority. He also said that regulation should not stop risks being taken as to a point risks advance society. He said that not enough entrepreneurial risks are being taken, but when they are we should know who bears that risk. Read the full story.