Will the Bank of England now move to steady the pound?

After a weekend where the markets digested the Kwasi Kwarteng plan for growth, the pound hit $1.03 in early trading in Asia – the lowest rate since the dollar was invented in 1792. The fall was shortlived – it later rebounded to $1.07 – but the fact that it touched such a low at all has set off speculation that the Bank of England will stage an emergency intervention putting up interest rates by as much as one percentage point. ‘We’ve entered the part of the currency crisis where psychology takes over. That could mean the markets continue to test the Bank and the pound falls further, suggesting that the Bank

Has Salmond just shattered Sturgeon’s currency delusion?

The war of the Salmondites versus the Sturgeonites is just getting started. Who knows how nasty it will get or what the longer term ramifications will be? Already apparent though is how Salmond’s pantomime villain shimmy back into the political arena is forcing Nicola Sturgeon onto ground she would rather avoid during an election campaign. The usual SNP tactic around elections is to downplay separation talk and reach out to risk averse moderate voters, safe in the knowledge the party’s most zealous supporters will stay in line. But with Salmond on the scene demanding to know how exactly Sturgeon will achieve independence, that is not an option. Sturgeon will have