Which of the following statements about countercyclical policy in the UK are correct?

a)The Bank of England increases or decreases public spending and taxes to prevent inflation and/or to stop the economy from slipping below the natural level of economic activity.

b)The Bank of England has a target of 2% for its policy rate.

c)Policy rates tend to be procyclical (away from the ELB).

d)Countercyclical fiscal policy is the responsibility of the Treasury.