BOE's Carney Cuts Rate for 1st Time in Seven Years

The transcript discusses the UK's economic adjustments post-referendum, highlighting the MPC's measures to manage change, including a reduction in Bank rate and asset purchases. It addresses the impact of sterling depreciation on exports and unemployment, and outlines the Bank of England's readiness to ensure monetary stability as the UK adapts to new opportunities outside the EU.

What was one of the initial measures taken by the MPC to address the UK's economic challenges?

• Decrease in corporate bonds

• Introduction of new taxes

• Reduction in Bank rate

• Increase in Bank rate

How is the depreciation of sterling expected to affect the UK's economy?

• Boost in exports

• Increase in imports

• Stability in unemployment

• Decrease in exports

What is the expected change in the unemployment rate over the next two years?

• Decrease to 3%

• Increase to 7%

• Remain at 4.9%

• Rise to around 5.5%

What is the Bank of England's stance on taking action for economic stability?

• It will focus only on inflation

• It is ready to take necessary actions

• It will reduce its involvement

• It will wait for further developments

What is the ultimate goal of the Bank of England as the UK adjusts to its new realities?

• To decrease exports

• To ensure monetary and financial stability

• To increase taxes

• To focus solely on domestic costs