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How High Will Interest Rates Go?
Many Happy Returns
The Bank of England's Negative Messaging
There's a big question here about whether markets believe the Bank of England will see this through, isn't there? Are they credible? And it seems that they're just about hanging onto their credibility at the moment. Long-term market expectations for UK inflation are a fair bit above 2% now. So they can't take too many chances. But they have to remain credible. Otherwise, if they aren't, then people will start budgeting for high inflation for much longer. The Fed is much more credible. There's been a lot of bad messaging from the Bank ofEngland. It was reported as him saying people should accept their poorer, which isn't quite what he said. Well,
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