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"Sir Mervyn King was on fine form the other day, when he publicly slapped down a journalist who accused the Bank of England of being 'institutionally inclined' to ignore any one-off factors that pushed up inflation.
"... It’s useful that the Governor picked up his questioner, because it might help to dampen the increasingly vocal fringes of the current policy debate — I call them the economic 'green ink' brigade — who preach economic hellfire and want to start tightening the screw on the entire country.
"One in 10 British companies is a 'zombie', so we’re told, staggering on to pay debt interest alone, kept alive by record low interest rates and depriving more worthy companies of credit." [Earlier Evening Standard comments.]
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"Retailers fear a Christmas flop as consumers keep cash"
"Fears of a dire Christmas for the High Street mounted today as new figures showed worried consumers have built up a £40 billion savings pile during the past year.
"The British Bankers’ Association’s latest data revealed 6.1% growth in deposits over the past year to £688.9 billion as consumers bunker down against economic fears, with savers squirrelling away £3.4 billion in October alone."
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