ECONOMICS
MONETARY POLICY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the Bank of England base rate today
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0.5%
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0.25%
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0.75%
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0.1%
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Explanation:
Detailed explanation-1: -It sets the level of interest all other banks charge borrowers. The base rate is currently 0.5%.
Detailed explanation-2: -The BoE aims to keep CPI at 2%.
Detailed explanation-3: -The market is pricing in further interest rate hikes in 2023, predicting that the Bank of England base rate will rise as high as 4.6% by July 2023 before slowly falling over the next five years to around 3.5%.
Detailed explanation-4: -At its meeting ending on 21 September 2022, the MPC voted to increase Bank Rate by 0.5 percentage points, to 2.25%.
There is 1 question to complete.