Good month, Bad month
1 Jul 08
Robert Burns and Mervyn King
Good Month : Robert Burns
A deal has saved Scotland’s banknotes, after the Treasury backed down over proposals which could have imposed prohibitive costs for Scottish banks that wanted to keep printing banknotes. Don’t expect a London cabbie to accept a Scottish fiver without a fight, however.
Bad Month : Mervyn King
The Bank of England governor has had write to the Chancellor to explain why inflation has risen by more than a percentage point from its target — for only the second time since the Bank became independent in 1997. The Chancellor can look forward to more of Mervyn’s missives…