BoE on hold as it’s "not there yet"

The Bank of England (BoE) is the central bank of the United Kingdom. Its Monetary Policy Committee (MPC) is in charge of its monetary policy.

 

The consumer price index (CPI) measures the price of a basket of products and services that is based on the typical consumption of a private household.

 

Core CPI excludes food and energy from its basket as they are considered more volatile.

 

The European Central Bank (ECB) is the central bank for the Eurozone.

 

The FTSE 100 Index is comprised of the top 100 companies listed on the London Stock Exchange.

 

GBP is the currency code for the British pound/sterling.

 

Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country's borders in a specific time period.

 

Gilts are bonds that are issued by the British Government.

 

USD is the currency code for the U.S. Dollar.

 

Bank Rate is the interest rate at which the BoE lends money to commercial banks.

 

Quantitative tightening is a contractionary monetary policy tool whereby the central bank reduces the financial assets it holds on its balance sheets.

 

National Living Wage is the minimum wage payable to workers in the UK aged 23 and over.

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