The BOE is on the verge of losing its credibility as it tightened the economy too little, too slowly. At this week's MPC meeting, Bailey will need to hide behind the higher-for-longer message as inflation is becoming more entrenched, but policymakers keep interest rates on hold as they worry about the economy. UK Gilts are poised to align with the prevailing global direction or rising yields, with 10-year Gilts resuming their rise towards 5%. At the September monetary policy meeting, the Bank of England opted to keep rates on hold, with five members out of nine voting for a pause. Over the past six weeks, the market ... (full story)