Miles says housing not overheated
Britain’s housing market is not overheating but interest rates will not remain at record lows indefinitely, Bank of England policymaker David Miles said in an interview yesterday. Miles, a member of the Bank’s monetary policy committee (MPC), told Bloomberg Television the amount of slack in Britain’s economy means there is no case for tightening monetary policy right now and that “overheating” was not a good word to describe the housing market.