The curse of the parochial view

This article by Samuel Brittan of the Financial Times, published Friday 11 August, compares the reaction to the recent round of central bank interest rate decisions.

The Bank of England could make a claim to be the most hawkish of the three major central banks who met this week, it says, with a higher real interest rate than both the fed or ECB.

"One way of making sense of these different moves is to ask what a world monetary authority might do. A clue is provided by a report from the Centre fo