BOE Boosts Bond-Buying Program More Than Expected

The Bank of England maintained its benchmark interest rate and increased its bond purchase target to £875 billion, a move that was expected due to extended lockdown measures and potential government stimulus. The decision was unanimous, with a focus on supporting the economy amid Brexit uncertainties and a softening consumer sector. The Bank is prepared to take further action if necessary. Public attention, however, remains on the US election, serving as a temporary distraction from the lockdown.

What was the Bank of England's decision regarding the benchmark interest rate?

• They decided to eliminate it.

• They decided to maintain it.

• They decided to decrease it.

• They decided to increase it.

What is the new target for the Bank of England's bond purchases?

• 800 billion

• 875 billion

• 750 billion

• 900 billion

What assumption is the Bank of England making regarding the EU?

• Trade will continue as usual without any agreements.

• There will be no trade agreement.

• A free trade agreement will be in place by January 1st.

• The UK will rejoin the EU.

What are the two main risks mentioned that are affecting the Bank of England's decisions?

• Inflation and unemployment

• Interest rates and inflation

• Currency devaluation and trade deficits

• Lockdown and Brexit

What is the public's main focus according to the media coverage during the lockdown?

• The Bank of England's decisions

• The US election

• Local government policies

• Brexit negotiations