Leading article:The ominous sound of a boom

The Ken and Eddie show is hotting up. The Bank of England disapproves of the last cut in interest rates. In fact, it thinks inflation may take off in two years' time unless rates go back up again soon.

We've been here before. The Bank's chief economist hopes Ken Clarke won't want to join the list of Conservative chancellors to bequeath their names to inflationary booms. But like Maudling, Barber and Lawson before him, Mr Clarke may be too optimistic about inflation or too pessimistic about the election to raise interest rates in time. How dull. There are so many economic mistakes to be made. Why do we in Britain always have to make the same one?