The market fallout from Wednesday’s Budget is a long way from the 2022 mini-budget episode. While we can’t completely rule out the possibility of rapid rises in gilt yields triggering a self-reinforcing cycle of further price falls, we don't think this is the start of another “Liz Truss” scenario.
We’ll be discussing the outlook for Bank of England policy in a 20-minute online briefing at 3pm GMT on Thursday 7th November. (Register here.)
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