Economics class: Bank of England faces its biggest inflation challenge since independence
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This article picked by a teacher with suggested questions is part of the Financial Times free schools access programme. Details/registration here.
Click to read the article below and then answer the questions:
When was the Bank of England (BOE) granted operational independence?
Why was the BoE granted independence?
Distinguish between (i) inflation; (ii) disinflation; and (iii) deflation
The article references Sir Mervyn King’s comment about the ‘NICE’ decade of growth. What was he referring to?
Given that a monetary policy-induced recession is likely, evaluate whether the BoE should tighten monetary policy to tackle the big inflation overshoot
Gavin Clarke, Emmanuel College