61 Bay House Sixth Form A Level Economics and Business students attended a presentation in January given by Duncan MacKinnon from the Bank of England learning about banking, inflation, interest rates and the stability of the financial system.
They explored issues such as the 2008-9 financial crisis, why the Bank of England is increasing interest rates and the impact on everyday people and business, as well as how the Ukraine war has impacted gas prices driving up inflation last year. They also learnt about a whole range of career paths working for the Bank of England and how varied the roles can be.
Jemari Christopher commented “I thought it was insightful into understanding the UK’s current financial situation”. Charlie Wells added “I found it greatly interesting that there are so many ways to begin working at the Bank of England without needing to go to University, it also intrigued me how many different types of jobs there were inside the bank from creating monetary policies to data analysis.”
Bo Wakley said “I found the talk extremely fascinating and it was great to hear from someone that can convey the passion they have for their work in such an engaging way. I was surprised to find how important the Bank Of England is for helping the smaller and independent banks through a ‘break in’ and ‘break out’ system. It was very insightful to find out that the Government gives inflation targets to the Bank Of England and discovered that if the inflation figure goes above or below 2% then there has been an error in the system.”