Pots, kettles and interest rates

Interesting Commons exchange in Treasury questions just now.  Alistair Darling has just tried to use George Osborne's Telegraph article this week against him, accusing the Shadow Chancellor of undermining the independence of the Bank of England by saying that rate-setters have scope for more cuts.

Perhaps before throwing such accusations around, Mr Darling ought to remember his own Mais Lecture of last night, in which he sent his own fairly clear signal to the Bank that he would be intensely relaxed about a cut in interest rates, a signal clear enough to make page 1 of the FT this morning under the headline "Signal to Bank on rate cut."

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