RE: Market wide manipulation started mid August!!! They knew what was coming all along!28 Sep 2022 22:29
Kbyk, Sp28.
There may have been rumblings and soundings prior to announcement and perceptive institutions that have no doubt made a killing. But if you take 2 things out of the equation which are,
1. Any market hysteria and further exaggeration of priorly taken out positions for gain
2. The culture in this country of every man and his dog having an opinion and the need to keep 24 hour news channels and press trundling on with bipolar political opinions and pseudo experts
then the underlying rationale for of all that has been done by the Government is probably the correct thing to have done for the public, households and businesses and given two successive periods of negative growth and thereby trying to stave off any chance of a deep seated recession.
Just to recall the tax cuts in the mini budget were to let people retain more of what they earn, alleviate some of the headwinds on businesses, promote investment into the UK, and to expedite all manner of projects to the benefit of the country. All with a view to stimulating growth in the economy.
Don't also forget that with the Governments intervention to cap energy bills at £2500 this is estimated to take 5% off inflation.
It's easy to knock things short term when decisions have just been made and without the opportunity for those levers to work themselves through and sometimes it takes reminders and indeed Bof E interventions to remind speculators that there are also upside risks.
Nice to see things a lot calmer and with markets recivering and the £ recovering against the $.
It shows that further to what they have been saying the BofE saying are closely watching and monitoring things.
It's a shifting of the balance of risk.
Sign In
Follow the stocks
