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by hericium
1312 days ago
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In the US, Fed took the "old system" for a ride with no brakes. In the UK central bank went to battle with PM over the "old system" a few weeks back. Old, or new, people in power have their ideas on how to make things interesting. |
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I thought it went like this: >PM announces tax cuts >no way those cuts can meet budget >panic in market for long maturity gilts >sudden spikes in benchmark rates are bad for everyone so BoE announces YCC
Did I miss something? Did Truss somehow take a swipe at the BoE? I'll be honest, I didn't pay super close attention.