Bailey Is Betting He S Right This Time In The Market Battle
If interest rates stay higher for longer, getting rates wrong will lead to more pain for borrowers. Policy makers have been burned by markets before – just ask Liz Truss or Kwasi Kwarteng. The former prime minister and chancellor were forced to reverse large parts of their £45bn package of unfunded tax cuts after it led to a rise in borrowing costs that eventually forced them out. It’s been a crazy shopping spree this past month....