Hiking up the rates from 10% to 15% gets you an additional 5% in returns over the course of the next year. Whereas if the English government decides to stop pro

Hiking up the rates from 10% to 15% gets you an additional 5% in returns over the course of the next year. Whereas if the English government decides to stop propping up the currency, you're going to see a significant loss, within the next few days or weeks. Which is exactly what happened in this case. Anyone who bought pounds in order to lend it at 15%, would have taken an immediate 15% loss over the next week instead. Unless you want to speculate, you're better off waiting for the market to settle instead of diving in during turbulent times.