Huw Pill, the chief economist at the Bank of England, said there is "undoubtedly a UK-specific component" to the recent market movements, which have seen the pound collapse and the cost of government borrowing soar.
“Over the course of the past week, there has been a significant repricing of financial assets,” he told an audience of company directors in Holywood, County Down. “Part of that repricing reflects broader global developments. Part of it reflects the ongoing normalisation of macroeconomic policy after the pandemic-induced episode of exceptional ease.”
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