Sir Jon Cunliffe has also been on the Today programme and was talking about the UK buy-to-let market.
He says the Bank of England might take action after a sharp increase in the number of properties bought by investors to rent out.
“Buy-to-let has grown faster than any other part of the housing market,” the Bank’s deputy governor said. “When you find one sector of the property market growing fast … then I think you have to ask questions about are there risks here, and you have to monitor those risks and if necessary you have to take action to curtail those risks.”
However, the Bank took no action on the buy-to-let market at the latest meeting of its Financial Policy Committee – the results of which were announced yesterday.