LONDON - Bank of England Governor Andrew Bailey on Thursday said he would not want to "talk up" an ongoing adjustment in the housing market into a crisis.

"The evidence on the housing market is, yes, there is an adjustment, of course - I don't think we should be surprised at that," Bailey told a press conference after the BoE raised rates to a 15-year peak of 5.25%.

"But I would certainly not wish to talk this up into a crisis in the housing market, because I think there's plenty of evidence that suggests that this is a process that has some moderating influences in it as well."

(Reporting by David Milliken and Alistair Smout, writing by William James; Editing by Kate Holton)