Bank of England Signals Rate Hikes Aren't Over

Bank of England Signals Rate Hikes Aren't Over

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Business

University

Hard

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The Bank of England (BOE) has raised the benchmark interest rate to 4%, the highest since 2008, amid ongoing inflation concerns. While the BOE hints at a slower pace of future hikes, inflation risks remain. Economic forecasts have improved slightly, but a recession is still expected, with GDP projected to drop by 1% over the next five quarters. The UK economy may not recover to pre-pandemic levels until 2026.

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5 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What is the current benchmark interest rate in Britain?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

How has the Bank of England's approach to interest rate hikes changed recently?

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3.

OPEN ENDED QUESTION

3 mins • 1 pt

What signs are emerging regarding inflation and economic growth according to Governor Andrew Bailey?

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4.

OPEN ENDED QUESTION

3 mins • 1 pt

What are the expectations regarding the UK's GDP over the next five quarters?

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5.

OPEN ENDED QUESTION

3 mins • 1 pt

What does the Bank of England predict about the recovery of the economy to pre-pandemic levels?

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