Friday, February 03, 2023

Bailey - The Reluctant Bride


As other central banks continue to raise rates, so the hapless and hopeless Andrew Bailey (Governor of The Bank of England) reluctantly faced the press to give his "full throated" support to yesterday's 0.5% increase in the UK's rate to 4%.

As ever, he failed to inspire. 

Despite the fact that he claims that inflation will fall faster than markets predict, the recession will be less severe that expected and that rates may not continue to rise no one really listened or believed him.

Much like a reluctant bride going along with the wedding, because it would be too difficult to drop out now, Bailey will continue to be buffeted and pushed around by events rather than navigate a course of his own!

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