Timing is not always the Bank of England’s strong suit. Britain’s central bank has increasingly faced accusations of being found wanting in recent years. Under Governor Andrew Bailey, the Old Lady of Threadneedle Street has managed to infuriate the crypto bros, failed to spot the Liability-Driven Investments crisis and consistently botched inflation calls too. Both of Bailey’s predecessors managed to stay within a percentage point of the target on average during their terms. The present Governor is currently averaging 4.5 per cent – more than double his target…

Still, economics is the dismal science: one where any judgement call is hard to get right. Much easier are basic facts – such as the reason why, on 11 November, we hold a two-minutes’ silence to remember the fallen dead. As any sch

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