Tony Blair meets the governator, the Bank of England makes its mind up on interest rates and a parliamentary committee ponders drug reclassification.

The key economic event of the week comes on Thursday when the Bank of England makes its decision on interest rates - the same day as the European Central Bank pronounces on rates for the eurozone. will be first with the news and reaction from London and Franfkurt.

Other highlights include GfK’s monthly consumer confidence survey and household lending data from the Bank of England, both on Monday. The PMI survey for the manufacturing sector comes on Tuesday and for services on Thursday.

The main house price indicator this week comes in the form of the closely-watched Nationwide report on Tuesday - will have the details. Hometrack publishes its monthly survey on Monday.

Westminster watch

The palace of Westminster is empty for the summer recess but the prime minister remains busy.

Mr Blair starts the week in California following his speech to News Corp executives at the weekend. On Monday he meets UK and US business leaders from the biotech industry before joining up with Arnold Schwarzenegger, the governor of California, at a climate change event.

On Tuesday he speaks at the World Affairs Council on environmental affairs before flying back to the UK for his monthly press conference on Thursday.

Reports of splits in the cabinet over Mr Blair’s support for the US position on the Lebanese crisis are set to continue. The Financial Times meanwhile publishes an exclusive MORI poll on Monday outlining the level of support for the prime minister in the country at large.

Other events

Monday sees the publication of a raft of interesting reports.

The Committee on Radioactive Waste Management issues recommendations on the disposal of nuclear waste from Sellafield.

The Serious Organised Crime Agency makes its annual “UK threat assessment” on tackling organised crime.

And the Pensions Regulator publishes its first annual report since it replaced the Occupational Pensions Regulatory Authority last year.

Also on Monday, members of the Public and Commercial Services Union employed at tax offices are set to strike over the introduction of new working practices.

Stephen Carter steps down as chief of telecoms watchdog Ofcom on Monday. On Tuesday the deregulation of retail phone cost controls comes into effect, allowing telecoms companies to set their own prices and compete for customers.

On Tuesday the parliamentary committee on human rights publishes its report on counter-terrorism policy.

Also on Tuesday ING Savings publishes a report on paternity leave and the financial pressures on new fathers.

And finally, who says parliamentary committees have no sense of humour? On Monday the Science and Technology Committee publishes its report on drug classification. Its title: “Making a hash of it”.

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