All Petitions and Economics and finance19 Aug 2007 12:00 am
We, the undersigned, petition the Prime Minister to urge the Bank of Enland to consider house price inflation outside the London area when setting interest rates.
The Bank of England has pointed to fast rising house prices as one reason for raising interest rates, though this may be true in some areas like London; in my area the East Midlands property prices have risen less than 8% in the last two and a half years, indicating that the housing boom seems to be over.
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