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I'm in agreement with you there Blue Card. Mervyn King (the head of the Bank of England) believes that monetary policy should be as boring as possible. If it becomes unpredictable then the central bank has lost control. So I wouldn't expect very high interest rates anytime soon. My best...

The report that MichaelW linked to isn't entirely bullish. As with any central bank commentary it can be taken to mean to support different viewpoints. Three things in particular struck me. The first is the graph of interest payments relative to income. The emergency rate cuts have...