TheBank of England(BoE) is the centralbankfor the United Kingdom. It has a wide range of responsibilities, like those of most central banks around the world. It acts as the government.

bankand the lender of last resort. It issues currency and, most importantly, oversees monetary policy.

a)Explain the transmission channels through which the bank of England influences real GDP, jobs, and inflation?

b)What are the effects of coronavirus on the economic growth of the United Kingdom?

c)What is the difference between Monetary policy and Fiscal Policy? Support this with examples.

d)Do you think we are heading for another recession? And why?