CARDIFF, Wales -(Dow Jones)- Bank of England Chief Economist Spencer Dale said Wednesday that most people had been surprised by how little U.K. house prices had decreased, but there could be further falls to come.
Responding to questions following a speech at Cardiff Business School, Dale noted that while it was easy to point to asset bubbles in sparking the recent collapse in the U.S. housing market, in the U.K. it was less obvious.
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