The Monetary Policy Committee of the Bank of England has voted to cut rates to 5% in a hotly anticipated decision. The markets had it at 65% that rates would go down…
It was a 7-2 split last time to hold at 5.25%. Now it’s 5-4 to cut. Sitting since August last year, they’ll come down from their highest level since 2008 after 14 consecutive hikes. Starmer’s genie strikes again…
Speaking at his speech on how to achieve “progressive capitalism” Wes Streeting fired a dig and Andy Burnham:
“Bond markets are not bond villains and fiscal rules matter.”