28 OCTOBER 1972, Page 20

Sir Leslie O'Brien

The Governor of the Bank of England, Sir Leslie O'Brien, last Thursday at the Lord Mayor's Mansion House Dinner: "There is no monetary policY which will simultaneously stimulate expansion and moderate inflation. That Was never more true than it is today and that is why I pin so much hope on the modern initiatives of the Prime Minister and the Chancellor."

Sir Leslie O'Brien is a nice, neat man, but hardly another Keynes or a giant of imaginative economics.