mowlas
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@gb-gta, with respect, I think you have this completely upside down.
What evidence do you have of this? Can you offer some quotes or examples from the BoE?It also seems that the Bank of England really wanted rishi to win. It’s looks to me like they are just attacking the government because their man didn’t get in.
They reacted to the disruption not caused the disruption! They only stepped in because your and my Pension funds were getting hammered and losing huge amounts of capital - Banks forcing them to make margin calls and liquidate assets - gilts. You (and Liz/Kwasi) should be thanking them, not blaming for cleaning up the mess the government triggered. (https://www.oxfordmail.co.uk/news/2...asures-uk-pension-funds-losing-large-amounts/)Why did the BOE wait until this mini budget to react aggresively and causing the market disruption? Everyone knew what was coming surely?
As my reply to your question above showed, they are clearly not a one trick pony and were on their A-game in the way they handled the pensions issue.Sure, they have a policy of trying to get inflation to 2%, but they seem to be a one trick pony, nothing else matters.
It is an emergency because the ineptitude of the government has triggered genuine market concerns (and now they are saying they won't publish the OBR scrutiny until late November!!!) showed that the government were planning on seismic borrowing and debt without any plan to balance the books and without any independent scrutiny. The market's doubts HAVE forced interest rates to project higher than they otherwise needed to be to shore up a picture of fiscal discipline - we are seeing the sh1t show falling out of that anticipation.Why is it an ‘emergency’ to them, like I said earlier, they knew this was going to be government policy many many weeks ago.
It just looks like a deliberate statement to fire up the media and cause panic for some reason known only to them.
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