BOE's Bailey Vows to 'Stay the Course' on Inflation

The video discusses the UK's economic outlook, highlighting a shift from expected recession to modest growth due to falling energy prices and resilient economic activity. Inflation is projected to decrease, prompting a Bank rate increase to 4.5%. Revised growth projections show moderate economic growth, supported by survey evidence of improved consumer confidence and strong employment. Factors such as falling gas prices and fiscal policy are expected to positively impact GDP and potential supply.

What is the target inflation rate mentioned in the text?

What measures are assumed to have positive effects on potential supply according to the text?