I see Governor of the Bank of England Mark Carney is offering odds of 6/4 and 4/6 on unemployment falling to 7 per cent by the end of 2014 and 2015 respectively. I only hope his econometricians are more accurate this time than when their calculations suggested three years of certainty of the current low interest rate continuing.
It may, however, be that the financial world is not as favourable to certainty as those in manufacturing appear to be. Wednesday’s disturbed stock market no doubt provided fees as usual and other opportunities as well.
L V McEwan