Teaching activity
Data Starter: Interest rate
Elizabeth Veal
1st October 2024
Trends in the UK Bank Base Rate
Using this chart from the Bank of England (scroll down to the chart called Official Bank Rate), answer these questions:
1. Why does the Bank base rate change ‘in steps’ rather than a smoother trend path?
2. Was the percentage point decrease in the base rate between Nov 2007 and March 2009 greater or smaller than the base rate percentage point rise between Nov 2021 and August 2023?
Download our suggested answers for this resource here
Elizabeth Veal
Liz has taught Economics for over 25 years, including several years as Head of Economics at leading schools.
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