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

Julia Darby, Heather Phillips

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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.
Original languageEnglish
Pages (from-to)53-58
Number of pages6
JournalQuarterly Economic Commentary
Volume31
Issue number3
Publication statusPublished - Apr 2007

Keywords

  • Fraser of Allander Institute
  • monetary policy
  • monetary tightening
  • Scottish economy

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