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“I’m sorry Liam, we’re losing you,” said John Humphreys on BBC Radio 4’s Today programme last week. “Oh what a shame, we can’t hear him,” the grand inquisitor continued. “It’s a very bad line”.

Explaining the implications of “negative interest rates” on the UK’s most influential news bulletin is tough at the best of times. Doing so when the communication link between you and the studio drops out, making you incommunicado 15 seconds after you’ve started speaking, makes the task more difficult still.
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