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‘This Is A Big Package’
The Bank of England did Wednesday what the Fed probably should have done last Tuesday - namely, take a holistic approach to emergency action in the face of a crisis.
The MPC voted unanimously to cut rates 50bps in an emergency move that takes Bank Rate back to a record low at 0.25%. Generally speaking, that's at least as large a move as the market wanted and expected (market expectations and market wishes have become one and the same lately - that's what happens when expectations morph into out
Tiny hands…no package.