UBS On-Air: Paul Donovan Daily Audio 'The Bank of England three-way'

The Bank of England policy decision offers a valuable international lesson. Yesterday’s decision had votes for unchanged rates, a 0.25% hike, and a 0.50% hike. One of the unfortunate realities of modern life is that structural change and the aftershocks of the pandemic means we have less understanding of how any economy is performing in real time, widening the spectrum of opinion about what has to happen next.