ICYMI: BoE's Ramsden says the October PMI consistent with UK economy being in recession

Bank of England policymaker David Ramsden spoke on Monday. He referred specifically to the awful PMI result from the UK for October.

Justin had the info here:

• UK October flash services PMI 47.5 vs 49.0 expected

Further remarks from Ramsden were posted:

• BOE Ramsden: We will take the necessary steps to get inflation back to target
• BOE's Ramsden: Gilt market shows credibility is being recovered

In further news re shuffling around deckchairs on the Titanic, this from yesterday:

• Rishi Sunak set to become the next Prime Minister after Boris Johnson pulls out

Which was confirmed during NY hours:

• Rishi Sunak to become Prime Minister on Tuesday morning

Sunak was Boris' Chancellor for a time.