SPEECH - In the speech 'House Prices, Household Debt and Monetary Policy' Stephen Nickell of the Bank of England said an interest rate reduction at present would affect house prices, household borrowing and consumption, which are already increasing strongly. A further reduction in the repo rate risked creating an unsustainable increase in debt which might subsequently unwind sharply, he said. However, the Bank's minutes reveal interestingly that Nickell has infact voted for a 0.25% interest rate