The ECB will be reluctant to cut interest rates until it is sure that the inflation danger has passed.

ECONOMIST: The euro-area economy

But what will happen now that the danger has passed?

CNN: Sighs and whimpers

In order to stop flood waters overwhelming central London and to save the massive expense of building fresh flood walls and defences, some land could be set aside to act as a safety valve, catching flood waters and storing them until the danger has passed.

BBC: London's drowning

Forecasters have warned that the danger of flooding has not passed after heavy rain in much of Scotland.

BBC: Torrential rain warning for east of Scotland