Blanchflower Says a BOE Rate Raise Is 'Clearly Wrong'

The video discusses the current economic situation, highlighting inflation at its highest in four years and real pay declining by 0.4%. The speaker argues against raising interest rates, citing historical examples and the current economic context, including Brexit. The focus is on the potential negative impact of rate hikes on consumer demand and economic growth, which is already slow in the UK. The recommendation is to wait and observe the Brexit negotiations, with a potential future rate cut being more likely.

What is the speaker's stance on raising interest rates in response to the current inflation levels?

• The speaker supports raising rates immediately.

• The speaker is undecided about rate changes.

• The speaker argues against raising rates.

• The speaker believes rates should be lowered.

According to the speaker, what is the main concern with the current economic situation?

• High inflation rates.

• Rising consumer demand.

• Falling real wages.

• Increasing interest rates.

How does the speaker view the economic growth rates following Brexit?

• As a justification for raising interest rates.

• As a sign of a strong economy.

• As too slow to warrant any rate changes.

• As irrelevant to interest rate decisions.

What does the speaker suggest should be done regarding interest rates amidst Brexit negotiations?

• Increase rates significantly.

• Maintain current rates and observe.

• Lower rates to stimulate growth.

• Raise rates to combat inflation.

What is the speaker's prediction for the next move in interest rates?

• Another rate cut.

• No change in rates.

• A minor rate increase.

• A significant rate hike.