BoE’s Cunliffe: UK may be close to debt sustainability limit
Deputy governor would consider action if debt-to-GDP ratio rises
The Bank of England (BoE) may need to act if credit growth starts to outstrip GDP growth, deputy governor Jon Cunliffe warned today (February 9).
Countervailing forces affect the ability of an economy to cope with higher levels of debt, and the sustainable level "shifts over time", Cunliffe, who is responsible for financial stability, told a conference in London.
However, based on the UK's recent experience, it would be "unwise to bet on further upward structural shifts" in sustainability, he
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