Central Banks
Blanchflower Says Housing Market Collapse Will Force BOE Pivot
- Former policy maker sees ‘really bad’ data coming in UK
- US economist says the BOE should be cutting rates now
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Danny Blanchflower, a former Bank of England policy maker, said “collapsing” house prices will push the UK central bank into a rapid pivot toward interest rate cuts.
Blanchflower, a professor of economics at Dartmouth College, said the BOE will have to “respond to really bad data” as previous rate increases continue to feed through to the economy.