What challenges await new BoE governor?

BANK OF ENGLAND

Stewart Cowley, manager of the Old Mutual Global Strategic Bond fund, examines the full extent of the UK's debt problems and options for the new Bank governor.

"The coalition has failed to significantly dent the deficit and we face a future of ever accumulating interest payments on public debt. It has always interested me to see how the seemingly uninteresting can suddenly become of great public interest. There was a time when the mention of pensions at a dinner party would require all the guests to prop up their eyelids with cocktail sticks. These days it is difficult to stop people from discussing how they are going to get by when they are older. National debt The thing that will come to dominate our minds in the future is going to...