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IMF Urges Britain to Control Its Housing Boom, to Stabilize Economy.
Knight Ridder/Tribune Business News, April, 2004
By Alex Brummer, Daily Mail, London Knight Ridder/Tribune Business News
Apr. 22--By the elliptical standards of the International Monetary Fund the message is blunt enough. Britain is doing very nicely thank you, but there is a risk that there could be an "abrupt correction" in the housing market that could disrupt the sunny outlook.
This does not come as a surprise. As the latest Bank of England minutes note, house price inflation has been picking up again since the middle of last year (when the Bank thought it would start to moderate) with all the main forecasters projecting a take-off.
The Halifax and Nationwide indices have risen by 5 percent over the last three months. This is worrying deputy governor Sir Andrew Large, who was...
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