UK Latest: BOE's Bailey on Rising Mortgage Costs

The video discusses the role of monetary policy and the bank's responsibility in ensuring financial stability. It highlights the need to balance monetary policy transmission with the resilience of the banking system and the ability to support customers. The consequences of increased interest rates are also addressed, emphasizing the necessity of such measures from a monetary policy perspective.

What does the speaker mean by 'transmission of monetary policy'?

In what ways does the speaker suggest the banking system should be resilient?