I previously talked about the difficulty in maintaining inflation at a managable rate and boosting the economy. It's now clear with some of the worlds central banks slashing interest rates that inflation will have to take a back seat.

I can't speak for the rest of the world but the fact that the Bank of England cut interest rates by 1/2% is massive news. As far as I was aware the Federal Reserve has made that move a few times in the last year or so, but working for a bank I've been following BOE interest rates for years and have never seen a change bigger than a 1/4%. And it was voted for a day before when they're supposed to, in line with the other major central banks. Quite unprecedented in my short adult lifetime.