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We got a boost from the bank of england a little early around. We will hear from the governor in just a moment. The cable rate, 1. 31. Keep an eye on the critical lines in the sand as we come through tomorrows session. We are starting to see yields a little bit higher here in europe today. A little bit of stabilization may be in the bond market after yesterdays big move, but a much flatter curve. Lets dive into the bank of england decision to boost its bond buying program. 150 billion, a little bit of a surprise. The market was expected 100 billion to be added to the program. Why the bigger number . That was the question i put to the governor. Gov. Bailey i think that was what we learn from our earlier experiences with covid. It is important that we act both quickly and that we act clearly in scale. That was an important consideration for us. The second thing is that we have to meet the inflation target sustainably over time. So a lot of work we did on our forecasts, employing the pers ....
I agree with what my fellow commissioners have said. I think that during the time im here the staffs work has given me no doubt that if given discretiona discretionary power, you would [ indiscernible ] from anything the commission intended. I think for the investigation unit, the two driving principles have always been the public trust and transparency. So as long as it is guided by those two, whatever actions you take are then the public will understand. And at the same time, when you look at the enforcement efforts, its largely serving to deter future ill activities. Sometimes when people look at these cases that have gone on for five, six, ten years and with nothing happening, it doesnt give the public much trust. So i think that it is really important to look at the cases you take. And the second thing is there are other cases that come to you that may not fit into the clearly defined areas that we would like to support. Maybe those are innocent cases that may expose some deficien ....
Me no doubt that if given discretiona discretionary power, you would [ indiscernible ] from anything the commission intended. I think for the investigation unit, the two driving principles have always been the public trust and transparency. So as long as it is guided by those two, whatever actions you take are then the public will understand. And at the same time, when you look at the enforcement efforts, its largely serving to deter future ill activities. Sometimes when people look at these cases that have gone on for five, six, ten years and with nothing happening, it doesnt give the public much trust. So i think that it is really important to look at the cases you take. And the second thing is there are other cases that come to you that may not fit into the clearly defined areas that we would like to support. Maybe those are innocent cases that may expose some deficiencies that we should look at so that we can look at policies to close the loopholes. So they may not fit into the rea ....
Me no doubt that if given discretiona discretionary power, you would [ indiscernible ] from anything the commission intended. I think for the investigation unit, the two driving principles have always been the public trust and transparency. So as long as it is guided by those two, whatever actions you take are then the public will understand. And at the same time, when you look at the enforcement efforts, its largely serving to deter future ill activities. Sometimes when people look at these cases that have gone on for five, six, ten years and with nothing happening, it doesnt give the public much trust. So i think that it is really important to look at the cases you take. And the second thing is there are other cases that come to you that may not fit into the clearly defined areas that we would like to support. Maybe those are innocent cases that may expose some deficiencies that we should look at so that we can look at policies to close the loopholes. So they may not fit into the rea ....
Certain matters beyond the limits of that policy, but we would like to see that more explicit in a revision. Thank you. I agree with what my fellow commissioners have said. I think that during the time im here the staffs work has given me no doubt that if given discretiona discretionary power, you would [ indiscernible ] from anything the commission intended. I think for the investigation unit, the two driving principles have always been the public trust and transparency. So as long as it is guided by those two, whatever actions you take are then the public will understand. And at the same time, when you look at the enforcement efforts, its largely serving to deter future ill activities. Sometimes when people look at these cases that have gone on for five, six, ten years and with nothing happening, it doesnt give the public much trust. So i think that it is really important to look at the cases you take. And the second thing is there are other cases that come to you that may not fit in ....