On Monday 10th May, an analyst from the Bank of England spoke to our Year 12 Economists:
Vani Grover explains what the Bank of England is:
The Bank of England is the central bank of the UK. The regulatory institution has served the public for over 300 years by looking after the UK economy and financial system. The BoE ensures that the public are able to pay for things, they monitor high street banks, set interest rates (called the bank rate) and store gold. By carrying out all of these vital functions, the central bank aims to support a strong and stable economy for the public in an ethical, transparent manner, bringing about confidence and trust.
Simarjeet Singh shares his experience from the session:
I am writing this response to tell you that I found the Bank Of England talk very useful as it gave me a huge insight to the way our money is controlled and how stability is maintained through the works carried out by the Bank Of England. I also found out that it only costs the Bank Of England, a few pennies to print notes, however they sell them to the banks at the value they are worth which is very interesting. Once again, this talk helped me a lot as it gave me a greater insight into the financial sector which is a major interest of mine and is a possible career path for me. I would like to thank The Bank of England for delivering this talk and the analyst for sharing her time.