It's decision time (again) for the central banks of the Eurozone and Britain, and like a month ago I argue for the immediate hike of benchmark interest rates by 0.5% (ECB) and by 0.25% (BoE).
Will probably not enhance my popularity among the crowd in Church House this morning, at the British Chamber of Commerce conference; I'll attend the gathering from 9:30 until 1pm today. Perfect timing too: hours after the 3rd eurozone member within a year has to crawl to EU coffers for a multi-billion rescue package; with Belgium and Spain looming large to be next.
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