Summary
THANKS to Gordon Brown's good sense in 1997 the Bank of England is independent and above politics. But it is hard to believe that the eight August figures gathered on Threadneedle Street to vote on interest rates today will not have an eye on the drama being played out at Westminster.
Certainly, the markets have started to take notice. The pound firm most of the summer and trading above $1.90 came under immediate pressure. It dropped a couple of cents when it was revealed that junior defence minister Tom Watson had resigned along with a slew of Parliamentary Private Secretaries.See the full content of this document
Extract
Labour Turmoil Roils Markets
The Footsie tumbled more than 50 points despite the approach of St Leger Day.
The clear message from Westminster was that Tony Blair's authority is draining away and it is unlikely that he will hang...See the full content of this document
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