In a speech at the London School of Economics, Alan Taylor said the key rate should "normalize" at 2.75% if all the shocks that have rocked the U.K. economy over recent years dissipate. At last ...

A dose of reality dragged those expectations back down to earth on Thursday when payroll data showed the US economy added 147,000 jobs in June and the unemployment rate ticked down to 4.1 per cent.