BOE Rates Expected to Stay on Hold But Will It Be a Unanimous Vote?

The transcript discusses the expected revisions in growth and inflation forecasts by the Bank of England, highlighting the potential for a rate cut vote amidst political uncertainty. Economists anticipate a unanimous decision to hold rates, but dovish speeches from MPC members suggest a rate cut could be considered. The UK economy faces stagnation, with cracks in the labor market, prompting the Bank to possibly revise forecasts. The impact of Brexit is also considered, with rate cuts deemed necessary even in a smooth scenario.

What are economists expecting regarding the monetary policy report?

• A split vote on holding rates

• A decision to increase rates

• A unanimous vote to hold rates

• A unanimous vote to cut rates

What is the main challenge for the Bank of England mentioned in the video?

• High inflation rates

• Political uncertainty

• Rising unemployment

• Increasing interest rates

How is the UK economy described in terms of growth?

• Stagnant

• Rapidly growing

• Booming

• Declining sharply

What have recent speeches by MPC members suggested about UK growth?

• It is declining

• It is stable

• It is rapidly increasing

• It is around zero

What scenario might still require rate cuts according to Michael Sanders?

• An economic boom

• A smooth Brexit

• A no-deal Brexit

• A political crisis