Overnight, BoE hiked its interest rate from 0.1% to 0.25%, more than doubling it in the process.
The bogeyman was doing this, meanwhile:
Quite the break from the familiar narrative that “lower teh rates” was the answer to the virus, the economy, the universe, everything.
as Peachy persistently preaches, inflation is definitely the devil, and seems like BoE may have also recognised their master off in the distance?
…warned inflation was likely to hit 6% in April – three times its target level.https://www.reuters.com/markets/europe/inflation-risk-omicron-slowdown-boe-rate-move-balance-2021-12-16/
6%?! That’s no laughing matter. That is about half the rate of EZFKA houses, which is clearly unacceptably high.
I’ll need to think this through properly to work out what it likely means when considered through the EZFKA looking glass.