BOE’s Miles Says Asset Prices Aren’t at Unsustainable Levels

Bank of England policy maker David Miles said he doesn’t see evidence of asset price bubbles in the U.K., countering criticism that the country’s central bank is fueling excessive risk-taking.

“I don’t think we’re in that kind of territory that obviously makes these asset prices unsustainable and at a bubble level,” Miles said today during a panel discussion at the Federal Reserve Bank of Boston, citing stock prices and corporate bond yields. “They’ve been very depressed and they’re more moving back to normal levels.”

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