Just think about it mind you. The New York Fed has done some preliminary work on setting up Reverse Repurchase Agreements where they "sell" some of the trillion dollar plus worth of assets they've acquired under TARP and other deals - for cash. "Sell" rather than sell because it's only for a fixed period and then the deal reverses. The effect is to take cash out of the economy for the period in question. The aim being to nail any inflation before it even starts.
So, Bank of England, where are you in all this?