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Podcast: Beyond Currency
Episode: 23 August 2023 - Has the UK Government been margin called?
Description: The outcome of next month’s MPC meeting, the sixth this year, is still on a knife edge. Although inflation has finally begun to see a meaningful fall, Andrew Bailey and his colleagues are “glorying” in keeping the markets guessing.
While the level of any advance guidance is a balancing act between pre-empting the committee’s vote and being accused of providing mixed signals, the markets should have been provided by now with a set of parameters by which rate decisions are made.
Right now, there are three outcomes of the September meeting, a fifty-point hike, a twenty-five-point hike and a pause...