"The gilt market (the market for government debt) had two days of utter carnage on Friday and Monday as markets moved to price in Bank rate leaping to around 6%. To be absolutely clear: the British economy cannot cope with a Bank rate of 6%. It would crash household incomes, crater growth and drive a deep recession." sorry if it's a basic question - but there is nothing stopping BoE/UK to apply yield curve control to change these gilt interest rate levels down, right? (except maybe political will and political mandate)
"The gilt market (the market for government debt) had two days of utter carnage on Friday and Monday as markets moved to price in Bank rate leaping to around 6%. To be absolutely clear: the British economy cannot cope with a Bank rate of 6%. It would crash household incomes, crater growth and drive a deep recession." sorry if it's a basic question - but there is nothing stopping BoE/UK to apply yield curve control to change these gilt interest rate levels down, right? (except maybe political will and political mandate)