user: input: Article: It matters in a symbolic sense in that it would be the first time, since the Bank of England was given control over interest rates, that it has missed the target on the downside.
Although it missed the target on the upside (that is inflation was over 3%) for month after pricey month from May 2008 to February 2009 and then from the beginning of 2010 to April 2012 (when it was at 3% or less only once).
To labour the point (as is my wont, yawn) it would be the first time that the rules put in place by Gordon Brown as Chancellor would oblige the Governor to write a letter explaining why inflation is too low - and what he and his colleagues intend to do about it.
But the more important question is whether inflation at less than 1% is actually bad for us - given that the implication of the Bank of England's mandate, that inflation should not be more than 1 percentage point above or below 2%, suggests it would be bad.
Well, the big reason that inflation has been falling - falls in food and oil-linked prices - should be good for most consumers and businesses, in that we have to buy these things and the drops make our money go further.
The lower prices are the equivalent of a chunky tax cut.
So in theory they will encourage us to spend more, and thus provide positive momentum for the economy, to offset - inter alia - the drag from the stagnating eurozone.
That said, there is also very little inflation in categories of discretionary spending, such as recreation, culture, clothing and furniture.
And, as I mentioned last week, we are likely to start shipping in deflationary pressures from the eurozone, as the European Central Bank responds to falling prices there by weakening the euro - which means we will pay less for imports from our important eurozone trading partners.
The point is that inflation is likely to remain well below target for many months, and if we all started to defer discretionary spending in the hope of buying cheaper later, falling inflation could turn into deflation and slump.
So although there is no chance in the immediate future of the Bank of England responding to "too low" inflation by further monetary stimulus or action to cheapen the cost of money - through further quantitative easing, for example - it will need to be vigilant that we don't turn Japanese, that we don't turn into an endemically stagnating economy.

Summarize.
output: If official inflation falls below 1% tomorrow, which seems more-or-less certain, would that matter?

input: Article: The 54-year-old had denied laundering HK$720 million (£55.4m) through his bank accounts between 2001 and 2007.
Judge Douglas Yau said Yeung was "self-contradictory" in his testimony and he was "making it up as he went along".
He will be sentenced on Friday and could face 14 years in jail.
Yeung was arrested and charged in June 2011, two years after he acquired the club.
Throughout the trial, Yeung and the prosecution painted differing pictures of how his wealth had been amassed.
Yeung maintained he accumulated hundreds of millions of dollars through stock trading, business ventures in mainland China, a hair salon and a keen interest in gambling.
But prosecutors said he was unable to show where almost HK$100 million (£7.7m) in his bank accounts had come from.
Judge Yau said Yeung had lied about how he made his money and exaggerated the profits generated by his hair salon business.
"I find the defendant not a witness of truth. I find that he is someone who is prepared to, and did try to, lie whenever he saw the need to do so," he told the courtroom.
He added there were reasonable grounds to believe that Yeung's various business deals had used money which represented "proceeds of an indictable offence".
Yeung bought Birmingham City in October 2009 for £81.5m from David Sullivan and David Gold, now the co-owners of West Ham.
By Pat MurphyBBC Radio 5 live
Business as usual is the message coming out of St Andrew's.
Recently, Carson Yeung resigned from all of his positions connected to Birmingham City.
He's the largest shareholder with 16.98% of Birmingham International Holdings who own 96.6% of the football club.
But two directors have recently been appointed to the holdings' board, both associates of Yeung.
I understand the holding company is looking to sell 12% of its shares to a Chinese holding company looking to raise extra capital rather than sell the club, which understandably is open to fresh investment.
But as for Birmingham City's value, it can't be much more than £30m now as it struggles in the second tier.
Carson Yeung bought the club in 2009 for £81.5m when in they were in the Premier League.
He is the majority shareholder but resigned in February as president of Birmingham City FC, director of Birmingham City plc and director and chairman of the club's parent company, Birmingham International Holdings Ltd (BIHL).
Since he took charge, Blues have won the League Cup but have been relegated from the Barclays Premier League and are currently 17th in the Championship after losing 1-0 to Ipswich on Saturday.
In a statement, the club's acting chairman Peter Pannu said: "I'd like to reassure all supporters and staff that today's verdict will have no impact on the day-to-day operations at the football club.
"Birmingham International Holdings Limited, the holding company, shall continue to support the football club under the leadership of the group's new chairman, Mr Cheung Shing, and will work to raise further investment to support Birmingham City FC. going forward."
Yeung worked in the UK as a teenager before becoming a "famous" hairstylist in Hong Kong. He made his fortune investing in Macau in the 1990s and is a prominent property developer in Hong Kong.
Kevin Ball, owner of the Birmingham FC fan website Joys and Sorrows, said: "From a personal position, I don't think he had a prudent approach to run the club, but in the first part of his tenure he gave me some of my best days as a Blues fan.
"I believe he wanted the best for the club, but I think he was naive in running the club and should have stepped away before now.
"Where we are now, the existing administration is tarnished. I hope we get sold."
A spokesman for fans' organisation the Blues Trust, said: "We hope that today's verdict marks the beginning of a new era, where we are able to put this troubling period behind us as soon as possible."
A Football League spokesman said: "Since the commencement of these criminal proceedings, the club's holding company has introduced revised arrangements to ensure that it could relist on the Hong Kong Stock Exchange and comply with Football League regulations. They include the resignation of Mr Yeung from all directorships.
"The League has been working with the club... and, based on the information provided, is satisfied that Birmingham City complies with its requirements regarding ownership, as well as having funding arrangements in place until the end of the 2013-14 season, at least."

Summarize.
output:

assistant: Birmingham City Football Club owner Carson Yeung has been found guilty of five counts of money laundering by a court in Hong Kong.