BOE Holds Rates Steady, Sees GDP Rising
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Business
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University
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Practice Problem
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Hard
Wayground Content
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The video discusses the Bank of England's decision to maintain interest rates at 0.25% and keep the asset purchase program at £435 billion. It highlights the 2017 high of Sterling and its subsequent retreat. The Bank raised its GDP forecast for 2017 to 2% and for 2018 to 1.6%. Inflation is a key concern, with a forecast of 2.4% over a three-year policy horizon. The Monetary Policy Committee members express increased concern about inflation, and the cable rate sees a slight increase.
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2 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
What concern did some members of the Monetary Policy Committee signal?
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
What was the change in the cable rate mentioned in the text?
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