Earlier this week Poland increased its base interest rate by +0.25% to 4% because their inflation rate at 3.6% is above their 2.5% target. That's right, if you're saving in zloties you get a real return on your money.
Today the European Central Bank raised its own base rate by the same amount to 1.25%. Inflation in the eurozone is running at 2.2%.
Also today the Bank of England continued its policy of "vigilance" and held its base rate at 0.5% despite the UK RPI inflation rate being 5.5%.
The BoE has gone past negligent and is now is just plain ridiculous. Mervyn King is beggering us all. (Possible typo in the previous sentence!)