UK prime minister Brown says he is considering radical options to get credit flowing saying the old ways won’t work. The UK has already embarked on a plan to buy GBP 50 bln in asset-backed securities. Details of his “radical” plan are not yet forthcoming. Of course, the PM is speaking in Davos, where radical is chic.
GBP has been on a tear for the last several sessions buttalk of “radical”measures could prompt longs to ring the register and retreat to the sidelines until further details are unveiled.