A week ago Thursday the bank of England went on the offensive to try and get the value of the £ back up as a first step to reducing inflation.
As these things go it was a pretty good attempt. The £ bounced up and broke through technical barriers which had been holding it low.
OK so that is the scene. The Irony?
Back last year when the government was trying to contain the impact of the Brexit vote, they asked the BOE not to take precipitate action without solid evidence.
Enter Carney and the BOE dropping rates by half. Trashing the value of the £, kick starting uncontrolled growth and setting a ceiling on the value of the £.
Take that May.
So, last week, May goes to Florence and kicks out the legs from under the moves the BOE had been trying to make the week before.
Because, let us make no mistake, every time it looks like the UK is going to fold and bow down to the EU, the £ tanks.
Take that Carney!
Simply, May just left the BOE with little choice but to raise rates.
Sometimes the game drives me mad. Sometimes it gives me something to laugh about..