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Bank Of England Delivers Cautious Cut As Fiscal Uncertainty Clouds Outlook
"External shocks have abated," helping to facilitate the disinflation process.
So said the Bank of England on Thursday, in the course of delivering the second rate cut of the cycle. Knock on wood. The "external shocks" are piling up again. Donald Trump's back and the German government collapsed this week. I suppose neither of those events counts as a "surprise," but the point is just that we live in a world of rolling tumult, and as such, the BoE shouldn't get too comfortable vis-à-vis the ext
