28 JUNE 1986, Page 25

Big bang

TO BE Governor of a central bank is now a high-risk occupation. In Israel (as I was saying the other week) you get fired, and elsewhere you get fired at. That is apparent in Manila, where a notice at the Gov- ernor's entrance to the Central Bank of the Philippines asks: 'Please deposit your firearms here'. If this spreads to Threadneedle Street, I should prefer: Please do not shoot the Governor, he is doing his best.