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Tuesday, September 27, 2022

Bailey Must Go!


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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