Tell that to the pound and gilts
- Market moves on Thursday was a "reassessment of conditions"
- It is clear that interest rates will have to rise at some point
- There is no fixed definition of 'transitory' inflation
He didn't make any friends yesterday and he's not going to make any now either. This is Class 101 in how not to communicate as a central bank really.
Mind you, they admitted that inflation could jump to as high as 5% at some point (talk about being behind the curve) in their projection yesterday but still don't see that as reason enough to walk the talk after the hawkish remarks put out over the past two months.
Yes, there are valid reasons not to go now but the mixed signals have been disastrous.
