Yesterday was Black Tuesday for job losses. There are going to be many more days like that this winter.
Menwhile, the MPC still driving firmly by looking in the rear view mirror has at last caught sight of the downturn. Its Report is likely to bring us more gloom and doom as it seeks to justify its late lurch from high to lower interest rates. Because it has got it all so hopelessly wrong, it will now have to spread more doom to justify its actions. It is still far from helpful.