Those comments were enough to send the City into a panic, and the gains the pound had made in the last couple of weeks were quickly wiped out. Sterling lost more than a percentage point against the dollar, euro and yen – a minor earthquake on the currency markets.
Economists meanwhile scrambled to update their forecasts, as the expectation that the Bank would take a more cautious approach than either the US Federal Reserve or the European Central Bank was rapidly reassessed.
However, in a post on Twitter/X, Panmure’s Simon French correctly highlighted a small – but highly important – word of Bailey’s that much of the square mile ignored, “if”. The MPC could be a bit more activist if the news on prices continues to be good, and if inflation continues to behave in the way the Bank hopes it will. This, obviously, means it will need to stay within spitting distance of the Bank’s 2 per cent target.
Denne historien er fra October 04, 2024-utgaven av The Independent.
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Denne historien er fra October 04, 2024-utgaven av The Independent.
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Tuchel left with big calls to make after Carsley refresh
No pressure, Thomas. Lee Carsley hands over to Thomas Tuchel promising to give England’s next manager a comprehensive debrief on the three autumn camps but perhaps also elevating expectations. Not so much with the results – promotion in the Nations League was anticipated for a team ranked fourth in the world and who reached the final of Euro 2024 – as with his assessment of England’s prospects for the time covered by Tuchel’s 18-month deal.
Wiegman calls up uncapped trio for injury-hit Lionesses
England manager Sarina Wiegman is confident Laura Blindkilde-Brown and Ruby Mace can both make the most of their first senior call-ups to an injury-hit squad.
Wales promoted as Cullen double freezes out Iceland
Wales won Nations League promotion as Liam Cullen’s first two international goals helped them to a 4-1 victory over Iceland.
Retail bosses gifted excuse for when things go wrong
It’s not just British farmers who are hacked off by the latest Budget some of the biggest names in retail have now joined forces to send one of those angry, multi-signature letters to the chancellor, scolding her for the imminent tax hikes coming their way.
Jaguar pounces on new logo
Car giant Jaguar has unveiled a new logo and a rebranded range of electric cars alongside marketing slogans such as “delete ordinary,” “live vivid,” and “copy nothing.”
OF UNSOUND MIND
A disquieting mood permeates the BBC's 'The Listeners', the complex story of a teacher whose life unravels after she starts hearing a ceaseless, mysterious hum, writes Nick Hilton
It's grit over gloss in photo show's eye on the Eighties
Protest, poverty and privilege - The 80s: Photographing Britain at Tate Britain offers an exciting, if partial, view of a decade that remains highly polarising, writes Mark Hudson
Publicly-owned rail may not get us back on right track
Nationalisation is often touted as a golden ticket to a better train service. Simon Calder is less optimistic it will work
CAFFEINE FIX
Why does a squirt of syrup in your coffee at Christmas burn such a massive hole in your wallet? Olivia Petter finds out.
Longing and loss: our era of British cinematic elegance
It is four decades since A Room with a View’ made Merchant Ivory a household name. Sarah Sands recalls a world in which her brother Kit and her then husband Julian were central
