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BOE’s Dale Says Property Pickup Is Good for U.K. Economy

Britain’s property-market rebound is benefiting the economic recovery and doesn’t yet pose a risk, said Bank of England Chief Economist Spencer Dale.

“I think a healthy housing market is good for the U.K. economy,” he said in an Bloomberg News interview in London yesterday. “What we’ve seen in the housing market is one which has moved from dormant to one which is functioning more like a normal market, which I think has been good for our recovery.”