What a day for aficionados of monetary policy, lots to get your teeth into. Analysis of the nature of inflationary targets, both in Japan and the UK, a bit of conflict between the present Governor of the Bank of England and his recently appointed successor and to top it all off, criticism of the current Governor by a former member of the MPC.

Plenty of fantastic evaluative material – if I get around to constructing a task on the basis of Professor King’s speech to the CBI Northern Ireland Dinner last night, I’ll try to post it on here.

For now, feast on the following:

Japan Changes Tack

And then the finishing touches two excellent analysis pieces in today's Daily Telegraph:

Central Bankers Should Be Brought To Heel

Adam Posen Accuses Sir Mervyn

And for the real anoraks among you:

The Text of Sir Mervyn's Speech

Adam Posen's Evidence to the Commons Treasury Select Committee

As I said, lots to consider...