BoE © fintag

News comments:
Pre Lehmans, the Bank of England used to ensure interest rates exceeded inflation. Now it prints money as well as controlling interest rates, and the Bank of England is all over the place. Help we don't want a recession! Help we want banks to lend again! Help we don't want deflation! Help we don't want inflation! Help we don't want to keep writing that stupid letter to the Chancellor every month! Help we don't want to be independent any more ...!

The Bank of England is trying to put out the fire of inflation with petrol (QE) and leaving the watering can well away (interest rates).

Today's shorts:
Bank of England loses its trousers (telegraph)

Today's longs:
Bank of England says Big Is Best (bloomberg)

Gossip:
Bank of England to be nationalised.