UK economy: Maradona Mervyn’s straight run

Mervyn King, the Bank of England’s Governor, is an exponent of what he calls the “Maradona theory of interest rates». King has pointed out that Diego Maradona, brilliant Argentine ex-footballer, beat five England defenders while heading “virtually in a straight line” for the England goal. Central bankers, too, can head “in a straight line for their goals,” King has said, while sending market expectations in convenient directions with feints and dummies. Mervyn appears to be on just such a Marado...