On any measure, having to abandon your much-hyped new policy innovation after just six months, is embarrassing - the rock star central banker seems out of tune.
Mr Osborne has suddenly gone a lot further than he did as recently as last April when he said of a sterling currency union; "frankly it's unlikely." Now he is completely ruling it out, what changed?
Bank of England Governor Mark Carney ditches his flagship interest rates policy, but says the cost of borrowing is unlikely to rise in the near future despite falling unemployment.
For the first time the Bank of England allows the £1m and £100m bank notes, which underpin the Scottish banking system, to be filmed. Economics Editor Faisal Islam gets his hands on them.
Mark Carney diplomatically warns Scotland that independence could come at a heavy price - like the ones paid by Ireland, Iceland, Cyprus and Spain.
Bank of England Governor Mark Carney says an independent Scotland would have to cede some of its national sovereignty if it wants to keep the pound.
If you believe that the government's policies contributed to further imbalances, it might appear a little cheeky to argue: "Vote for me and I will rebalance the economy I further imbalanced."
After years of lacklustre growth, the recovery appears to be taking off at last. Good news for Chancellor George Osborne, but even he is not celebrating yet.