No. I think the phrase is "up and down like a whore's drawers":

http://www.bankofengland.co.uk/boeapps/iadb/Repo.asp

Presumably plenty of scope to make money in (eg) forex if you know about interest rate movements a few days in advance.

I agree that there's plenty of scope to make money there, but I don't understand at all the reported hysteria about "this is a threat to the economy of England". No it isn't.

Yes good point, there would have been more advantage in knowing it back then. It still makes little sense as an article and the idea that there is low tolerance of financial crime in the UK is laughable.

>>The source said: “Leaking monetary policy stuff would have been, and still is, a hanging offence,” and an immediate internal inquiry was launched. But it failed to identify where the leak was coming from, so no action was taken and the case was closed.

Well, they would have hung him if they could've found him! So said the anonymous source. Since the quote comes from an official at the bank, and not the authorities, I guess it's a euphemism for firing?

No it's probably another silly UK law that is left over from years ago.