I mean, that's a stretch. Perception is reality and ramping up QE immediately after Truss' disastrous budget certainly looked like monetary financing to the average person.
More:
- There has been no discussion with government on pace and timing of BOE asset sales
- UK labor market has turned out to be much more constrained than we thought and different than other countries
- Scale of total quantitative tightening needed is uncertain
Bailey is speaking before lawmakers and I will update headlines here.
GBP has been volatile today with cable last up 50 pips to 1.2006.
