12 FEBRUARY 1994, Page 22

Hi Eddie, hallo Alan

EDDIE GEORGE of the Bank of England and Alan Greenspan of the US Federal Reserve sat next to each other in Guildhall last week. This week Mr Greenspan put his rate up, Mr George put his down, and nei- ther will have startled the other. Mr George's 1/4 per cent cut is a tiny sweetener in advance of this spring's tax increases, with another quarter still in reserve. Mr Greenspan's move implies that the US economy is now strong enough to take it.