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Spending power of this country is pretty much tied into getting credit, because there's no capacity to save from your salary. Isn't it? That and credit being cheap is a problem.
I don't think people who set interest rates cared about a lot of the other places in the UK. I don't think Londons population will prove to be any more important in their decision.
Chalfie
Bainbridge
if interest rates went up significantly it would ruin the London market as borrowing huge sums of money would be untenable for most. I don't think that would happen as it would also ruin the spending power of a lot of the nation.
If inflation goes rampant we are fucked.