Summary:
* Cheap money, lower inflation, improving prospects in Europe have helped drive Britain's recovery. Austerity has not proved as great a drag on growth as some feared. Recovery is taking root, so much so that policymakers are mulling when and how to intervene to calm things down. Investment and consumer incomes seem close to a turning point, offering the prospect of broader-based growth to come. Markets are worrying less about UK growth. Speculation about the timing and means of monetary tightening are likely to move centre stage.
