Blogging is likely to be quiet for the next few days...

I'm afraid I'm going to be out tomorrow evening and then away for most of the weekend. As such, blogging is likely to be light to non-existent.

In the mean time, this report on the future of Bank of England is an interesting one. Its recommendations might allow the Bank to do more to cope with the challenge the Treasury is placing upon it. Despite the private sector growing strongly, which usually implies a rapidly rising tax take, we still have deficits. That implies large structural deficits. These will make the central bank's task a difficult one and we'd best give it the best chance we can.