Virtual visit from the Bank of England
Year 12 Economics students visited by Bank of England Ambassdors
Two Bank ambassadors (Saba Alam and Jack Worlidge) working in the market analysis and intelligence department gave Year 12 Economics students a wide ranging talk. It began with an introduction to their own career paths and what their day to day job involves. Soon we moved onto what exactly the Central bank of UK does which is more than printing banknotes and storing gold; though learning about the gold vault below Thread Needle street was quite interesting! The Central Bank of England does is primarily associated with the whole country; their mission is to promote the good of the people of UK. The speakers continued clearly explaining the importance and the processes involved in monetary, financial stability within our economy.
The basics of the monetary system were then covered, exploring what policies are implemented and how it affects everyday life. They explained the role the Bank of England plays in the economy, from setting interest rates to monetary policy. Different committees such as the Financial Policy Committee within the Bank of England are given the responsibility to tackle instability and uncertainty in the economy. Throughout each topic, we put the theory into practice by exploring the impacts of the virus and vaccines on various sectors of the economy.
Before ending the session with a Q&A session, we were introduced to a range of career opportunities and advice on what to do should we pursue a career in economics. Soon we had the opportunity to clear any doubts and ask about our own interests. Our questions relating to the future use of cryptocurrency and Covid interest rates had insightful responses and quenched the academic curiosity ... for time being. It was an enlightening presentation and a privilege being able to learn from people in the industry first hand. We’re greatly thankful and appreciate the insight from Jack and Saba and that the opportunity was possible despite the difficulties within current circumstances. For those wanting to know more, there are noteworthy resources and information at https://www.bankofengland.co.uk/education
By Sejal Jain