SACRED HEART STUDENT’S ATTEND LSE LECTURE WITH GOVERNOR OF THE BANK OF ENGLAND AND NOBEL PRIZE WINNING ECONOMIST 2017
On Monday 16 January 2017, I, along with three other Year 13 Economics students, attended a talk at the London School of Economics where Mark Carney, the Governor of the Bank of England, and Amartya Sen, an Economics Nobel Prize winner, spoke on Policy Issues Affecting the Bank of England. In particular, Carney focused on the social value of inflation control and explored the relationship between economic output and inflation. He argued that the decision to cut interest rates to 0.25% and introduce more Quantitative Easing into the economy has protected the UK labour market from potential negative impacts of Brexit. He argues that the growth the UK economy has experienced post-referendum has been higher than expected. However, this has been due to increased consumer spending as opposed to exports or investment which is unsustainable long term. For the Bank of England, borrowing and consumer spending are going to be monitored closely this year and in the future as ‘households appear to be entirely looking through Brexit-related uncertainties.’
Overall, this was an excellent opportunity for me and my peers to see world famous economists speak on current economic issues. What interested me in particular was the fact that the Governor of the Bank of England was discussing the same issues as we would in lessons at school!
Kimberly Okino, Year 13