Having dithered and delayed in raising interest rates in response to inflation, with "exquisite" timing Bailey chose the moment when sterling was stabilising to issue a wishy washy statement about not hesitating to intervene.
Apart from the obvious point that the Bank, under his sleepy watch, has been hesitant; he failed to realise the danger of the timing of this wishy washy nonsense, which implied the Bank also has a role in propping up Sterling.
FACTOID: It doesn't!
Unsurprisingly, sterling immediately took a tumble.
Bailey must go!
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