Time for a reality check from the MPC?  

Most commentators expect the Bank’s Monetary Committee to admire their handiwork and recommend more of the same. They are likely to blunder on with cheap and easy money for the public sector, a shivering small and medium sized business sector denied credit at a sensible price, and a rotten deal for savers. They call this supporting the recovery, and skate over their considerable role in the inflationary boom and the credit squeeze slump that preceded it. So what should they do to restore some private sector jobs, prosperity and balance to the UK economy? They should send a letter to the Chancellor telling him to make necessary changes so they can run an intelligent money policy that does support recovery. The letter should recommend: 1. The FSA relaxes cash and capital controls on banks lending to the UK private sector, so more money can be released for companies...