Card 1 of 19
The Bank of England's own interest rate, used as the benchmark for commercial banks' rates, is the [ ].
A
The Bank of England's own interest rate, used as the benchmark for commercial banks' rates, is the Bank Rate.
B
It cools spending, reducing pressure on prices when demand exceeds the economy's supply.
C
The transmission mechanism is the path a Bank Rate decision follows before changing spending, output and prices.
D
The Monetary Policy Committee decides Bank Rate.
Card 1 of 19
3.6.1 What is monetary policy Flashcards
19 flashcards on OCR GCSE Economics 3.6.1 What is monetary policy: the key terms, formulae and calculations you need to recall for Component 01 and Component 02.