On 14 December 2010, the Bank of England and the Centre for Economic Policy Research hosted the fifth Monetary Policy Roundtable. These events are intended to provide a forum for economists to discuss key issues affecting the design and operation of monetary policy in the United Kingdom. As always, participants included a range of economists from private sector financial institutions, academia and public sector bodies. At this fifth Roundtable there were two discussion topics: how different will this recovery be?; and how fast can the economy grow without hitting capacity constraints?