Short question: Two recent trends in the English economy have raised concerns that the Bank of England may have become powerless to control UK inflation: (i) people carry fewer and fewer 1 pound banknotes in their pockets so the quantity theory no longer holds, and (ii) companies and people's choices and investments seem to depend on more the longer end of the yield curve. Provide an argument against each of these concerns. (Assume, for simplicity, that there are no deposits. )