Policy Decision: What to Expect From the Bank of England

The transcript discusses the fluctuating expectations around the Bank of England's interest rate decisions amid the pandemic. Initially, a rate hike was anticipated, but the emergence of the Omicron variant and new economic data, such as a high CPI print, have complicated the decision-making process. Economists are adjusting their inflation forecasts, and there is speculation about future interest rate increases. The discussion highlights the uncertainty and strategic considerations facing the Monetary Policy Committee.

What implications does the delay in raising rates have for the Monetary Policy Committee's future actions?

How might the Omicron outbreak affect the Bank of England's decisions on interest rates?