Forget oil prices for a minute. Forget the explosion in the cost of basic foods driving them past the level which a good part of the world's population can afford. Forget the credit crunch and the reeling banks. Last night Andrew Sentance, one of the harder-nosed members of the Bank of England's interest-setting committee, left these mighty issues to other people and examined the other ingredient of our present discomfort, the stricken pound.
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