The argument for waiting is that, by next month, the Bank's policymakers will have a new set of economic forecasts to guide their decision - and perhaps a better sense of where the crisis in the Eurozone is heading.

BBC: QE looms: Now or next month?

The staff in the restaurant is professional and pleasant, the by-the-glass wine list is decent, and my linguine with clams last night was much better than the linguine with radicchio I had at that little hole-in-the-wall (with a great sense of place) near the Grand Hotel Gianicolo yesterday before heading for the station.

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Interest-rates will probably be over the hill, in the sense they will have risen but will then be heading down, the economy will will still be looking pretty good and the stock market just won't look so expensive then.

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