Will below-zero inflation lead the Bank to start tightening policy?

Prospect of quantitative easing or negative interest rates are remote, given the forecasts for earnings and growth

Inflation below zero. The biggest increase in real take-home pay in a decade. Falling unemployment. Borrowing costs at or close to record lows. The Bank of England forecasts suggest that the UK economy will hit a sweet spot in 2015.

Perhaps a bit too sweet. The last time there was a combination of crashing oil prices, easy monetary policy and a well-entrenched recovery was the mid-1980s and that ended with a colossal consumer and housing boom, followed by an equally colossal crash.