Summary
Start with the good news. The Bank of England is not going to set up a weather unit. That was one of the few firm facts to emerge from governor Mervyn King's presentation of his latest "Inflation Report" yesterday. Nobody thought for a minute that it would. But then we never imagined that governor King would turn out to be impressively well-informed about the drought in Italy.
It is his job, though - to face up to the economic consequences of global warming (regardless of whether it is man-made or sun- made).See the full content of this document
Extract
You Don't Need Weatherman to Know Which Way Rate Blows
Higher interest rates - and fear of more to come - may hold most sources of inflation at bay. Provided most of us think they ...
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