Central bankers head to Jackson Hole. Federal Reserve chair, Janet Yellen and European Central Bank President, Mario Draghi et al, will be meeting this Friday to make their eagerly anticipated speeches at Jackson Hole. Debate about QE roll back, interest rates and inflation will presumably take centre stage. The US …

Bank bail out cost 5.2 billion euros. I notice in the news today that the Italian government is bailing out two more of its banks at a reported cost of 5.2 billion euros (£4.6 billion; $5.8 billion). This comes not long after the Monte dei Paschi bank bail out. It’s …