If Liz Truss’s big idea really is to remodel monetary policy, expect markets to take fright

Liz Truss is into the last three and showing momentum, which is the point at which we should fret over the fate of the pound. Investors may be prepared to overlook loose talk about £30bn-worth of unfunded tax cuts – this a campaign, after all – but questioning the independence of the Bank of England is several grades more serious. That is the territory into which the foreign secretary veered at the weekend.

Or, at least, she seemed to do…