Bank Of England Must Do A "Large" Emergency Rate Hike To Avoid Total Disaster, DB Warns.

So what is to be done to avoid a complete disaster? Well, according to DB FX guru George Saravelos, it's time for central banks to panic, and to put ridiculous governments in their place. Specifically, the strategist writes in a note (available to pro subs) that "a large, inter-meeting rate hike from the Bank of England as soon as next week to regain credibility with the market."