The Bank of England's Monetary Policy Committee has announced that base rate will remain at 0.50 per cent and the QE programme will stay at �375bn for a further month.
David Cameron could scarcely have crouched any lower during this week's visit to China. For his compatriots, the British prime minister's enthusiastic self-abasement was, well, embarrassing.
Bruno Guillon, chief executive of Mulberry, hit out at the level of discounting on the British high street as the luxury goods group announced a 28 per cent fall in first half pre-tax profit.
The US economy grew faster than initially estimated in the third quarter as businesses aggressively accumulated stock, but underlying domestic demand remained sluggish and buoyed the case for the Federal Reserve to keep up its stimulus for now.
To a recession-enfeebled British public, the Chancellor's decision to impose a tax on wealthy foreigners comes not so much as a piece of bad news, as a positive shot in the arm.