Liquid error: wrong number of arguments (2 for 1) George Osborne Puts Second Woman, Kristin Forbes, On Bank Of England MPC | Marsh & Parsons Sales and Lettings Estate Agents London

Blogs, Press & Media

George Osborne Puts Second Woman, Kristin Forbes, On Bank Of England MPC

Fri 22 Apr 2016

George Osborne has welcomed American economist Kristin Forbes as a new member of the Bank of Englands
Monetary Policy Committee (MPC), the second woman appointed under his chancellorship. Osborne said Dr
Forbes, previously an economic adviser to US president George W Bush, would bring "huge ability &
international experience to the UK".Forbes appointment to committee, which sets interest rates, comes after the
chancellor had to fight accusations of a "Tory woman problem as all his appointments to the nine man group had,
until recently, been men. The Treasury has ultimate responsibility for approving the appointments of all the
members.In March, Osborne appointed his first woman to the committee, Dr Nemat Shafik, who has been serving
as deputy managing director of the International Monetary Fund.Forbes was appointed to replace Dr Ben
Broadbent, who has been promoted to be deputy governor of monetary policy, taking over from Charlie Bean
next month. Dr Broadbent also said today that he did not see a housing bubble starting in Britain.Forbes is
currently Professor of Management and Global Economics at the Massachusetts Institute of Technology. She
served as one of the three members of the White Houses council of economic advisers between 2003 and 2005,
with main responsibility for international macroeconomic issues.In a statement about Forbes appointment,
Osborne added: "Dr Kristin Forbes is an economist of outstanding ability with real practical experience of policy
making. She will make an exceptionally strong addition to the MPC. Its a sign of the high regard in which the
Bank of England and our monetary framework are held around the world that someone of Kristins ability wishes
to be part of them".Bank of England governor Mark Carney was revealed by HuffPostUK last year to have piled
pressure on Osborne to consider appointing female economists to the Banks MPC.See also: 11 Reasons The
Bank Of Englands No Housing Bubble Call May Be WrongLoading SlideshowNobel Laureates think were in a
housing bubbleNobel Economics Laureate Robert Shiller thinks so, and he predicted the 2007 house price
crash.And even world snooker championsRonnie OSullivan says a huge housing bubble (and crash) will
happen.Or in his words: "Baby its coming."Central London house prices are rising 729 per dayThe average
price for a three-bedroom house in central London has increased by 729 a day over the last year, equivalent to
a quarter of a million pounds, estate agency Marsh & Parsons said.The estate agent firm said the scale of house
price inflation meant that prices rose by 19% since April 2013 to an average of 1.6 million, equivalent to 5,120
a week, or eight times Londoners 658-a-week median salary.Single people cant seem to afford to own a
propertyLess than one in ten properties in many parts of the UK are affordable to single house-buyers, according
to the homeless charity Shelter.Meanwhile, three central London areas are completely unaffordable for couples
with children or single people living on average wages: Kensington and Chelsea, Westminster and CamdenThis
garage was sold for 251,000Its JUST a garage.And this tiny Chelsea lawn went for over 80 grandThis tiny lawn
in Chelsea sold this month for 84,000, and it doesnt have planning permission or right of way.This garden looks
a bargain by comparisonIt sold for 53,000 last September and you cant do anything on it at all Youll only
need save for 30 years to buy a homeSo says independent research commissioned by Shelter .That boy has
already started on his first houseYou might as well move hereIts cheaper to commute from Spain than to live
in London.Other Bank of England chiefs are worriedSir Jon Cunliffe, the Banks deputy governor for financial
stability, has warned that it would be "dangerous to ignore the momentum that has built up in the UK housing
market."He also said that the housing market was the "brightest light" blinking on the dashboard of financial
hazards that the Bank monitors.Broadbent himself admits he may be wrongWhile arguing that Britain is not
showing signs of a housing bubble, Broadbent admitted that it may be easier to spot with hindsight."Bubbles are
things that are things that are far easier to identify after the event than at the time," Broadbent told Radio 4s
Today programme.Also on HuffPost:"

Contact our office

Close

Contact our Lettings team

Close

Contact our Selling team

Close

Contact our About us team

Close

Contact our Corporate Services team

Close

Contact our International team

Close

Contact our Land and New Homes team

Close

Contact our Professional Valuations team

Close

Contact our Professional Services team

Close

Contact our Property Management team

Close

Contact our Riverside Properties team

Close

Contact our Career team

Close

Contact our office

Close

Request a viewing

Close

 

Close

Share this with a friend

Close