- It is not for us to tell markets how to price assets
- Trying to re-anchor our thinking, communication after recent events in the UK
- The challenge is to set policy such that economic slowdown is sufficient to ensure inflation is consistent with target and also avoid overshoot in the other direction
That is what happens when there is a lack of coherence in the communique but you can't really blame the BOE on the latest mini-budget fiasco I guess. In any case, they already signalled a more dovish hand by stating that markets are looking for too much in terms of rate hikes, and that weighed on the pound yesterday.