Assessing the impact of monetary tightening : a sectoral analysis of the UK and Scottish economies

Darby, Julia and Phillips, Heather (2007) Assessing the impact of monetary tightening : a sectoral analysis of the UK and Scottish economies. Quarterly Economic Commentary, 31 (3). pp. 53-58. ISSN 0306-7866

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Abstract

The Bank of England has increased interest rates by one quarter of a percentage point on three occasions since last summer, in August and November of 2006 and in January of 2007. January‟s increase in the base rate to 5.25% surprised many analysts, most of whom had expected the decision to be delayed until February. Although rates were kept on hold in February and March, most commentators are expecting a further increase in April or May.

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