That is completely wrong.
Nope, it's exactly right. I give you the Bank of Englandshire:
That woud be the Sun's explanation, but it's more complex than that.
and Mugabe - http://www.timesonli...icle2182843.ece
In March 2009, the Monetary Policy Committee announced that, in addition to setting Bank Rate at 0.5%, it would start to inject money directly into the economy in order to meet the inflation target. The instrument of monetary policy shifted towards the quantity of money provided rather than its price (Bank Rate). But the objective of policy is unchanged – to meet the inflation target of 2 per cent on the CPI measure of consumer prices. Influencing the quantity of money directly is essentially a different means of reaching the same end.
Here you go - http://stats.oecd.or..._FLASHFILE_EO86
Just noticed Linda Fabiani's use of the Arc of Recovery phrase, I'd of though staying away from any phase starting with Arc of would have appropriate given the fate of the Eck's last Arc.
It's great fun learning how the Arc of Prosperity is still more prosperous than the UK - by a huge amount - and how they're all now on course to prosper in the next few years (including Iceland) while the sclerotic and stuttering UK economy will continue to run down. Enjoy yourself.