BOE's Carney Speaks About Rate Hike: Statement

The transcript discusses the MPC's decision to raise interest rates for the first time in a decade, explaining the reasons behind the decision, its expected impact, and future economic outlook. The primary goal is to return inflation to the 2% target amidst high inflation and economic growth above its speed limit. The impact of Brexit on the UK's economy is also highlighted, emphasizing the need for monetary policy to support the economy during this transition. The MPC plans to monitor economic developments closely, with any future rate increases expected to be gradual.

What factors are influencing the current economic outlook according to the MPC?

What role does Brexit play in the MPC's assessment of the economic outlook?

How does the MPC intend to balance inflation targets with support for jobs and activity?