25 JUNE 1988, Page 21

Nanny knows best

THE party is over, and in the City nursery this week the children could scarcely wait for Nanny to get back from abroad and start ladling her medicine. The money market, which a fortnight ago thought that nine per cent was the right level for bank base rates, has now been given them and is ready to swallow 91/2 per cent. I continue to think that it will be 10 per cent before Nanny has finished. She has had a nice trip, with the other Nannies agreeing to help the natives of Boria-Boola-Ga by not taking money away from them. Since the natives do not have any money, this is an inexpensive way to help them, better than the alternative.