You know what I was saying yesterday about the Bank of England losing its nerve?
The minutes to the latest Bank of England meeting are out and the big news is that Adam Posen — a well-known dovish member of the board and frequent add advocate of more easing — does not currently support more QE.
The pound just instantly skyrocketed.
Eep. Higher pound, tighter policy. Scarily the Bank didn’t even need to change interest rates to tighten policy, somebody just stopped saying something.