ECONOMICS IN PRACTICE: HNC WELCOMES BANK OF ENGLAND FOR GUEST LECTURE

A Level Economics students at HNC have recently enjoyed a virtual guest lecture exploring the financial responsibilities of the Bank of England, and discovering more about the role that the bank plays in keeping the UK’s economy stable.

Following a period of high inflation, the UK is currently experiencing a period of economic uncertainty which is driving a ‘cost of living’ crisis for many. This has been covered extensively in the press in recent years, with one of the focuses being on the Bank of England’s role in maintaining the value of the pound through inflation targeting, for example, with interest rate rises. This is just one of the organisation’s key responsibilities, and in this insightful lecture delivered by Farooq Kohli, A Level Economics students discovered more about the breadth of the Bank’s functions.

During the session, the group were introduced to the five key responsibilities of the bank, from providing financial stability and regulation, to the storage of gold reserves, and the wide variety of economics related roles support the Bank’s many functions. As well as hearing about the roles and routes available to Economics students, the group also heard about Farooq’s own professional experiences, and how he secured his position and the journey that led him to work for one of the world’s biggest banks.

Daryl Stappard, Head of Faculty, comments “Economics impacts our every day lives, and in this insightful guest lecture, our A Level Economics students were able to learn more about the UK’s central bank, and how the different functions of the bank impact the economic stability of the country – and the role that economists play in developing policies that help the Bank to determine the right course of action. Hearing directly from the Bank of England on a topic that forms an integral part of curriculum has provided the group with a genuine insight into the Bank, and will support their success in upcoming assessments. Thank you to Farooq for taking the time to enlighten and inspire our students”

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