I don’t know. I’m only an economist. But the BOE shows M4 lending without securitizations etc suddenly much higher.
My question is: can they control this thing? These figures are sufficiently volatile month-on-month that discerning a trend will take a while. By which time, will we have FTSE at 6000, an ever-booming housing market, but little joy for manufacturing?
I’m waiting for the David Smith verdict