This phrase was the verdict of the market after the quarterly report on inflation from the Bank of England on Wednesday. Sterling rose to a figure against the dollar in response, and the market began to evaluate a much lower likelihood of further quantitative easing. Why? The reason was the lack of consensus on a further easing. This was not seen on how members vote when one vote for higher rates, and the other for the expansion of QE. However, it has also become considerably from the comments of manager, who said an unusually wide range of opinions in the Monetary Committee and a fierce debate about the risks and was reflected in the form of extended variations of the fans on the accompanying chart. As a result, the UK market in particular, Sterling is facing extraordinary uncertainty as regards the dynamics of inflation and about the impact of tighter fiscal policy.
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