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?

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

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