BOE's Carney: MPC Will Address Brexit Vote Consequences

The transcript discusses the implications of a decision on June 23rd, focusing on the limits and roles of monetary policy in addressing economic shocks. It highlights how monetary policy can align demand with supply over the medium term to meet inflation targets but cannot immediately offset all shock effects. The discussion also covers the impact of economic growth on jobs, wages, and wealth, emphasizing that these are influenced by larger decisions beyond monetary policy. Finally, it outlines the Bank of England's role in promoting financial stability and managing inflation.

What broader range of issues does the MPC consider beyond monetary and financial stability?

• Technological advancements

• Economic growth and inflation

• Environmental concerns

• Social welfare policies

How can monetary policy respond when demand falls below supply?

• By implementing trade barriers

• By reducing interest rates

• By softening the economic impact

• By increasing taxes

What is the primary goal of monetary policy over the medium term?

• To increase government spending

• To balance demand with economic supply

• To reduce unemployment rates

• To enhance technological innovation

What factors are not directly controlled by monetary policymakers?

• Interest rates

• Currency exchange rates

• Inflation targets

• Economic growth and its implications for jobs

What is the Bank of England's best contribution to the UK, regardless of the referendum outcome?

• To increase taxes

• To promote international trade

• To support financial stability

• To reduce public spending