BOE Holds Steady as Three Officials Vote to Hike Rates

The video discusses the Bank of England's decision to maintain the key interest rate at 0.25% despite a 5-3 vote indicating some members favored a hike. The UK economy shows signs of slowing, with retail sales and wages under pressure, while inflation remains a concern. The video highlights the significance of the Monetary Policy Committee's voting dynamics, including the roles of Kristen Forbes, Michael Saunders, and Ian McCafferty. It also addresses the political uncertainty surrounding Brexit and its impact on economic policy, noting that some economists expect a rate cut instead of a hike.

What is the current interest rate set by the Bank of England?

• 0.50%

• 0.25%

• 0.75%

• 1.00%

How many members of the MPC voted for an interest rate hike?

• Four

• Three

• Two

• Five

Which member of the MPC was expected to vote for a rate hike but did not?

• Michael Saunders

• Mark Carney

• Ian McCafferty

• Kristen Forbes

What is the main political uncertainty affecting the UK economy?

• Brexit

• Trade agreements

• Immigration laws

• Tax policies

What are some economists in London predicting about the next interest rate move?

• It will be abolished

• It will remain the same

• It will go up

• It will go down