There is nothing like being asked to explain to the British public on Nicky Campbell's Five Live show why missile attacks on an Iranian oil field create a domino effect, reverberating in the mortgage markets. When you hear directly from farmers rationing their red diesel or homeowners having their mortgage offers pulled, it brings the charts and the numbers to life. Not a single molecule of Iranian gas is exported to the UK, so the speed of these shockwaves is astonishing, for someone who has been covering efforts to control inflation for over a quarter of a century. I have just emerged from the Bank Of England where I interviewed the governor on behalf of broadcasters. The bottom line is the Bank did not cut interest rates, as was the clear expectation before the war started. Inflation will not now fall to the 2% target, as was also expected before the war. The Bank's forecasters said inflation could reach 3.5% in the coming months on the basis of Wednesday's oil and gas price.…