International Economic Week in Review: The BOE Dusts Off Its Inflation Fighting Credentials

            Markit economic readings started to turn more bullish in the 4Q16.  In the following months, this trend of improving economic numbers spread throughout the OECD countries: Canada emerged from a shallow, oil-induced recession; Brexit hasn’t caused a recession in the UK; Japan has started to grow at a stronger rate and Australia continues to expand modestly.  Gavyn Davies of the FT wrote about the uptrend in his latest analysis of the real time economic Nowcasts.  He was guardedly optimistic about future prospects.   In response to his caution, I would be a bit