Students Cash in on Bank of England Lecture
Over 200 students from across Dudley College gathered in the new Evolve Theatre to find out more about the world of finance and banking from Graeme Chaplin, the West Midlands and Oxford Agent from the Bank of England, which will help them with their studies and assignments.
The lecture, organised by Business students, aimed to demystify the role of the Bank of England and give the students an understanding of the complex systems managed by the national bank that regulate and control the country's finances.
Monetary policy, inflation and interest rates were all covered by the bank's agent, helping students studying business, accounting, A levels and Retail to grasp the importance of these factors as they are linked to assignments about finance, government and commerce.
Amy Sibley, aged 18, whose studying Level 3 Business Administration told us "I was surprised how much the Bank of England did and how much it impacts on other things like mortgages and how much food and petrol cost. I'm sure I'll be able to use some of the information in my business assignments."
The event also helped the Bank of England's representative to explain his role in the region, and how it linked and helped to shape national financial decisions and fluctuations. Graeme Chaplin travels around the region talking to local businesses and communities to gather local intelligence and test the financial temperature. Information gathered is vital to the decision making process of the national organisation, in particular in monthly interest rate decisions.
Graeme Chaplin explained "It is an important role of the Bank's Agents to promote understanding of the Bank's work, and of the wider economy, across all regions of the UK and to all age groups."