The hose pipe ban may be over for the UK economy after the hints from the Bank of England that it could commence another quantitative easing programme. But which assets benefit from the flood of money is almost impossible to predict.

According to the minutes of the Bank of England's Monetary Policy Committee meeting held on September 7 and 8, 2011: "Most of these members thought that it was increasingly probable that further asset purchases to loosen monetary conditions would become warranted at some point".