King Peak, clad in Douglas fir, lords over Big Flat, its summit (4, 087 ft.) just 3 miles inland.

FORBES: Paradise Lost

King Hubbert, who correctly predicted in 1956 that oil output in the lower 48 states of America would peak by around 1970.

ECONOMIST: The economic impact of high oil prices

But Mervyn King, the Bank's deputy governor, said that house-price inflation appeared to have passed its peak.

ECONOMIST: The Bank of England yanks down its growth forecast

Mr King did rule out extending the special liquidity scheme, however, which had provided banks with emergency cash at the peak of the financial crisis.

BBC: Bank of England warns inflation will exceed 3%