Monetary Policy - UK Base Interest Rates set to Rise

A basic introduction here to the decision regarding interest rates that's facing the MPC this week.

This is ideal for Year 12 economists starting to think about policymaking, but perhaps a little bit lacking in detail for those people who've already covered the issue.

The country's main interest rate, set by the Bank of England has been below 1% since 2009, in the wake of the global financial crisis.

You might, however, use it as an opportunity to recap what is meant by the monetary transmission mechanism, the liquidity trap and think about whether a rise in interest rates is appropriate at this moment in time.