WIBF Edinburgh held another informative business breakfast in March. The Bank of England Agent for Scotland, Will Dowson, provided our members with an economic update supported by hosts Grant Thornton.
The event covered a variety of topics including how the regulatory landscape developed, the importance of learning from history in forecasting the future and the role of the BoE Agent for Scotland. We learned the key factors affecting the decision making on interest rate rises and the domestic drivers of inflation rises, such as:
• World economy
• Monetary & financial data
• UK demand & output trends
• Labour market developments
• Cost & price pressures
• Tactical issues relevant to immediate policy decision
Diversity of thought was another theme and it was interesting to hear more about how the BoE culture is changing for the better as a result. The gender pay gap and the ageing population were other factors to be considered in understanding future developments.
There was also the opportunity to ask Will questions about his views on GDP as a benchmark, the influence of the Governor and the role of BoE in financial education.
Look out for future Business Breakfasts coming up on the topics of Artificial Intelligence (May) and Financial Crime (August).
