EU banker exodus hits London property, BoE's McCafferty says

"It has pretty much failed thus far on ... the traditional aspects of money. It is not a store of value because it is all over the map. Nobody uses it as a medium of exchange," Carney(pic) told students at London's Regent's University

LONDON: An outflow of European bankers from London is damping prices and rents in the capital’s housing market, Bank of England policy maker Ian McCafferty said on Tuesday.

“We have seen an exodus of people – such that certain properties in London are now finding it harder and the prices in London are now reacting,” McCafferty, who is due to leave the BoE this month, said in response to listener questions on LBC Radio.