It's a case of history repeating itself. |
The markets are anticipating that the Bank is likely to raise to or near 7 percent by the end of the year. |
The markets misread what Duisenberg was trying to say. The ECB is singing from the same hymn sheet [and are] trying to dampen expectations of an early rate rise. |
The pound's strength is tightening monetary conditions in the U.K., but it's not enough. |
This will add to their credibility and any risk premium from their opaqueness will be limited. |