Treasury Advisers Have Concerns Over BOE Inflation Fight

Treasury Advisers Have Concerns Over BOE Inflation Fight

Assessment

Interactive Video

Business, Social Studies

University

Hard

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The transcript discusses the independence of the Bank of England and its role as an economic advisory body. It highlights the historical context of political criticism, particularly focusing on the separation of monetary and fiscal responsibilities since 1997. The discussion includes past tensions, such as those in 2007 between Mervyn King and Gordon Brown, and the challenges of government criticism of the Bank of England.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary focus of the Bank of England's economic advisory council?

To implement monetary policy directly

To manage the UK's fiscal policy

To provide guidance on inflation and economic issues

To oversee the UK's banking regulations

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Since when has the Bank of England maintained its independence from political influence?

Since 2007

Since 2017

Since 1997

Since 1987

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the traditional stance of politicians regarding comments on monetary policy?

They frequently comment on it

They avoid commenting on it

They are required to comment on it

They only comment during elections

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who was the Chancellor during the 2007 tension with the Bank of England?

Philip Hammond

Alistair Darling

Gordon Brown

George Osborne

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why did Gordon Brown refrain from publicly intervening with the Bank of England in 2007?

He agreed with the Bank's policies

He wanted to maintain the Bank's independence

He was unaware of the issues

He was advised by the Prime Minister not to