Emeritus Prof Christopher May on Nostr: So if the US-Fed starts an 'aggressive' reduction in interest rates, will the BoE be ...

So if the US-Fed starts an 'aggressive' reduction in interest rates, will the BoE be forced to also start to speed up its reductions?

If this does happen, what does that tell us about the 'independence' of the Bank of England? Its formally semi-independent (still works to targets set by Govt.), but if moves in the USA also force its hand (which might also be very welcome) it *will* confirm the sado-monetarists are not as 'independent' as they pretend....

#interestrates
h/t FT