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Essay / Research Paper Abstract
This 12 page paper considers the impact that lowering interest rates have had on the UK economy. The paper is written in three parts. The first explains who set interest rates in the UK, and how they are set. The second part looks at the way in which interest rates changes will impact on businesses and individuals. The last paper looks specifically at the UK and how the economy has performed. The bibliography cites 9 sources.
Page Count:
12 pages (~225 words per page)
File: TS14_TEUKintr.rtf
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Unformatted sample text from the term paper:
relevant to both of these perspectives. In the UK there has been a period of great stability, the base interest rate has been set at 4% (as of 2nd October
2002), where it has been since November 2001. This is a reflection of the economic conditions and also of monetary policy. If we went to understand why interest rates have
fallen since the year 2000, and the impact that these falls and low rates have had on the economy we first need to look at some background, considering who sets
the interest rates, and why, along with what consideration they may have when making the decisions. When we understand the basics of interest rate policy we can then look t
the way that interest rate movements may impact on the economy, This will increase understanding of the process and considerations regarding interest rate movements, but will also indicate the resulting
economic conditions that may be observed following an interest rate change. Then we can apply the theory to the reality, by looking at the UK economy, and how it has
behaved with reference to the interest rate policies. II. The Role of the Bank of England Interest rates are set by the Bank
of England, however this has not always been the case. The Bank of England was traditionally under the control of the government. When it was national policy to use interest
rates as a tool to control inflation the final decision as to whether or not interest rates would increase was seen as residing with the government, and not the bank.
Therefore, the bank was in many ways merely a subsidiary department of the government. It was only in 1997 that the Bank of England was granted the freedom to make
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