Turnill: BOE Prepared to Tolerate Higher Inflation

The video discusses the Bank of England's willingness to tolerate higher inflation due to economic weakness, highlighting a shift towards looser monetary policy. It compares wage growth and inflation in the UK, noting a gradual increase in wages and a lower unemployment rate. The video also examines factors affecting UK inflation, such as the depreciation of sterling and rising oil prices, which are expected to increase import costs and pressure real wages.

What recent shift has been observed in the monetary policy of global central banks, particularly the Bank of England?

How has wage growth in the UK changed over time, and what impact does it have on the economy?

In what ways has Brexit influenced wage growth numbers in the UK?

What are the two main reasons expected to cause a rise in the headline rate of inflation in the UK?

What effects are anticipated on real wages as the headline rate of inflation rises over the next 12 months?