Trade idea: sell short sterling from Dec-15 out to Jun-16

I argued after the BoE’s February Inflation Report that they were closer to hiking than you might think (here). Since then market pricing has seen the expected timing of the first rate hike get pushed¬†further out to around Sept/Oct 2016, from around April 2016. So what has happened in the past three weeks, and should … More Trade idea: sell short sterling from Dec-15 out to Jun-16

BoE: is a rate cut “extremely foolish” or even-money?

Andy Haldane, the BoE’s Chief Economist, gave a rather extraordinary speech yesterday (here). What was so extraordinary about it was just how off-message it was compared to the recent Inflation Report (which he oversees), MPC minutes and comments from Governor Carney at TSC. The MPC set-up not only allows for, but through the parliamentary process … More BoE: is a rate cut “extremely foolish” or even-money?