The minutes of the Monetary Policy Committee meeting

1.The minutes of the Monetary Policy Committee meeting

Examine the minutes of the Monetary Policy Committee meeting shown below, and use the Phillips curve diagram to explain the Bank of England’s decision in August 2016 to: (a) Cut interest rates by 0.25 percentage points; and (b) Expand the level of quantitative easing (referred to as purchases of corporate and government bonds in the extract).

2.The Nullification Crisis

Discuss the Nullification Crisis