- Recent volatility may be a sensible correction
- Unclear if market adjustment is completed
BOE markets director Paul Fisher and UK debt management office CEO, Robert Stheeman are testifying before a treasury select committee.
- BOE unwinding will likely start with rate increase
- Will set out a gikt-sale program for exit
No tapering for us Brits!! Cold turkey straight off the bat.
Can only end in tears.
Let’s see if we get any discussion on timescales.
- Tighter policy may be years away
- Current UK yield curve has no rate increase priced in until mid-2015