This week sees the next meeting of the Bank of England’s Monetary Policy Committee, (MPC), and the talk is once again about whether rates will finally rise. This time the meeting is held against the backdrop of some stinging criticism by the Governor Mervyn King of the Big Banks, that has unsurprisingly, not gone down as well as it could in Bank Boardrooms.

Basically, Merv warned that failure to reform the banking system and remove the “too big to fail” assumption could easily lead to another financial crises. Cuttingly, he stated that over the past two decades, too many people in financial services had thought “if it’s possible to make money out of gullible or unsuspecting customers, that’s perfectly acceptable”.