BOE's Carney Speaks on Economy, Rate Path: Statement

The transcript discusses the centenary of women's suffrage and the 25th anniversary of the inflation report. It highlights the current strength of the global economy, with robust growth driven by investment. The UK benefits from global demand and a weaker sterling, but Brexit uncertainties restrain investment. Inflation remains above target due to import prices, but domestic pressures are rising. The MPC anticipates gradual monetary tightening to manage inflation and support economic stability amid Brexit uncertainties.

What is the main driver of the current global economic expansion?

• Investment

• Government spending

• Consumer spending

• Tax cuts

How has Brexit uncertainty affected UK investment?

• It has had no impact on investment.

• It has boosted investment significantly.

• It has restrained investment.

• It has led to a surge in foreign investment.

What is the expected trend for UK GDP growth over the forecast period?

• It will average around 1 3/4%.

• It will remain stagnant.

• It will exceed 3%.

• It will decline sharply.

What is the primary cause of sustained above-target inflation in the UK?

• Government policies

• Rising wages

• Higher import prices

• Increased consumer demand

What is the expected trend for CPI inflation over the forecast horizon?

• It will rise sharply.

• It will fall gradually.

• It will fluctuate wildly.

• It will remain constant.

What is the most significant source of uncertainty for the UK's economic outlook?

• Technological advancements

• Brexit negotiations

• Climate change

• Global trade tensions

What approach does the MPC emphasize to ensure monetary stability?

• Principled and transparent policy

• Ignoring inflation targets

• Inconsistent policy adjustments

• Aggressive policy changes