Podcast: Will the UK’s Economic Gamble Work?

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Amid the turbulence that has followed the UK’s mini budget, Schroders spoke to economist Azad Zangana to find out more about its implications for the economy, households and markets, and what might come next.

PLEASE NOTE: the podcast was recorded on Tuesday afternoon, prior to Wednesday morning’s announcement from the Bank of England that it will buy long-dated gilts. In response to this move, Azad Zangana says:

The Bank’s decision to step in to stabilise the gilts markets with purchases makes sense in the short term, but this is ultimately a credibility issue with fiscal policy. This is the wrong time to be acting as lender of last resort, when it goes against the Bank’s primary objective of fighting inflation. It seems that the BoE will fight the market instead of hike rates aggressively as the market is demanding, resulting in a worse outlook for sterling.

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Source: Schroders

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