lol at everyone mising the point! they have only 2 choices now, blame the lossof control of inflation on outside factors such as world oil and food prices, sit back, watch it hit 4+% and the hope it comes back again, or sharply target it. if you make borrowing expensive, and people short of money, you reduce inflation lol. Just a shame mortgage holders get hit too.

I really cant fault them whichever way they go, not a decision Id want to have to make. Its not the current deciion that worries me, its everything in the last few years that has put us here. Bottom line is, we should have had "new labour" out after the first four years, just a shame the majority of voters were too stupid to see it.