Iscuss and evaluate the current monetary policy framework in the UK and critically examine the recent interest rate decisions by the Bank of England

This is an empirical research report, which should combine relevant theory, empirical evidence and your analysis. Empirical evidence can include secondary data or appropriate quotation of published work by other researchers. The emphasis is on the integration of various materials to form a coherent and well-articulated report rather than originality.

Some central issues to be discussed in each topic. (These issues are only suggestions. You can extend your discussion in any way as you see fit):

i) What is the monetary policy regime in the UK? Why such a regime is adopted?

ii) What is the inflation performance in the UK like since the 1990s? What is it like most recently?

iii) What factors and mechanisms are at work to give rise to the inflation performance? What evidence do you have to support your analysis?

iv) Are the recent decisions justified?
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