But if growth prospects deteriorate further, the rate-setters may have to cut more drastically than they signalled this week.

ECONOMIST: Economic woes

Because of the increased number of first-time rate payers, collection rates could deteriorate, causing a further increase in costs.

BBC: Council tax: 230,000 homes in Wales face first bill

The availability of permanent staff continued to deteriorate last month, with the second-sharpest rate of decline for almost five years.

BBC: Scottish jobs market 'steadily improving'

Loans are going bad at a slower rate, and are not expected by Lloyds to deteriorate any time soon - which is another one of those benign trends that makes the current UK recession seem slightly odd.

BBC: Lloyds shows cost of alienating customers

Despite mischievous comments from South Africa skipper Graeme Smith in the slip cordon that the pitch may have started to deteriorate, there were really no gremlins at all, but when the scoring rate dipped below one per over England's target seemed rather distant.

BBC: Pietersen reign starts with a win