The Good, the Bad and the Ugly of the BOE.

The Bank of England held rates and signalled that the pace of tightening would be slower than markets expected. Sitting behind that are some grim forecasts.

Sometimes television scriptwriters get themselves into a hole so deep that the only way out of it is to resort the least satisfying of dramatic devices: the retcon. There was more than a touch of Bobby Ewing stepping out of the shower to yesterday’s Bank of England announcements.