It's Possible That BOE Hikes Today, Goldman Sachs Says

The transcript discusses the Bank of England's Monetary Policy Committee (MPC) decision-making process amid current economic conditions. It highlights the strong labor market data and high inflation, which support a rate hike, but also notes the uncertainty due to COVID-19 and the Omicron variant. The speaker predicts that the MPC will hold off on a rate hike for now, with potential increases expected in February, May, and November. The discussion also covers the potential for the UK economy to handle multiple rate hikes, aiming for a neutral interest rate level.

What is the normal rate of interest in the UK according to the speaker?

What does the speaker suggest about the current monetary policy stance in relation to the neutral level?