BOE’s Vlieghe: Rise in the UK debt burden not sustainable

Bank of England (BOE) MPC member Gertjan Vlieghe is on the wires now, via Reuters, making his scheduled speech about the household debt at the Resolution Foundation, in London.

Key Points:

If there is less credit headwind to UK economy, then maybe ready for higher rates.

There is increased evidence that tighter labour markets are beginning to have upwards effect on wages.

Rise in UK debt burden not sustainable if it continues for many years.

Households are leveraging up when not much slack in the economy.

MPC should take an interest in that matter.