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The Bank of England has maintained a record low interest rate of 0.5% since 2009, benefiting businesses by enabling growth and investment. However, this has posed challenges for savers and pensioners who face financial constraints. The Monetary Policy Committee took extreme measures during the economic emergency, and while the economy has stabilized, there is concern about future interest rate increases and their impact on repossessions. The Bank of England faces the challenge of gradually returning to normal economic conditions.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the Bank of England's decision regarding interest rates during their monthly meetings?

To fluctuate the rates monthly

To decrease the rates to 0%

To keep the rates at a record low of 0.5%

To increase the rates significantly

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How did First to Print benefit from the low interest rates?

By reducing their workforce

By investing in better quality equipment

By closing down some branches

By increasing product prices

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What challenges did low interest rates pose for savers and pensioners?

Higher returns on investments

Increased savings

Need to cut down on expenses

More travel opportunities

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the response of the Monetary Policy Committee during the economic emergency?

They took no action

They implemented extreme measures

They focused on tax reductions

They increased interest rates

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the expected future challenge for the Bank of England regarding interest rates?

To keep rates at 0.5% indefinitely

To decrease rates further

To ease the country back to normality as rates rise

To eliminate interest rates completely