U.K.'s Hammond: The BOE Will Remain Independent

The video discusses the independence of monetary policy and clarifies that there are no plans to change how it is managed. It highlights the role of fiscal policy in addressing distributional outcomes and corrects market misunderstandings about potential changes in monetary policy. The Monetary Policy Committee will continue to independently determine interest rates and make recommendations on unconventional monetary policy.

What is the role of the Committee mentioned in the text regarding monetary policy?

How does the text describe the relationship between fiscal policy and government actions?

What misunderstanding do the markets have according to the speaker?

What will continue to be the case regarding monetary policy as stated in the text?

What decisions will the Monetary Policy Committee continue to make?