THE DEPUTY GOVERNOR of the Bank of England has heard from business leaders in Milton Keynes about the challenges they are facing as the Bank prepares to consider whether to change the interest rate at its meeting next month.
Sir David Ramsden met with business leaders, heads of other Milton Keynes organisations and city MP Iain Stewart to hear their thoughts on the current financial and economic landscape.
The meeting discussed financial trends, inflation, interest rates and the opportunities and challenges facing companies in various sectors across the region.
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Main picture: Sir David Ramsden (left), with Milton Keynes South MP Iain Stewart, Louise Wall, chief executive of Milton Keynes Chamber of Commerce, and Phil Kenmore, director corporate development and partnerships at The Open University.
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Sean Rose pictured left, head of policy at Milton Keynes and Northamptonshire Chambers of Commerce, said: “These roundtables provide business leaders from Milton Keynes with the opportunity to hear directly from senior decision makers from the Bank of England. These meetings also give the Bank a great forum to hear from businesses on the ground.
“We know from our conversations with businesses and our survey work that inflation is having a huge impact on firms across the region. That is why conversations about the base interest rate are so very important for firms to be involved in.”
The Bank of England’s Monetary Policy Committee, of which Sir David Ramsden is a member, is due to meet on November 2 to decide what level interest rates should be set at. Hosting roundtables with local businesses and organisations provide an opportunity for the Bank of England to understand what the situation is like on the ground ahead of any decision-making.
“Milton Keynes is home to many brilliant businesses and organisations that contribute to our economy and provide employment for local residents,” said Mr Stewart, the MP for Milton Keynes South. “That is why I, along with other Milton Keynes businesses and organisations, really welcomed the opportunity to discuss the current economic landscape both locally in Milton Keynes and nationally across the country with the Deputy Governor of the Bank of England.
“I would like to thank Sir David Ramsden for providing this opportunity to local businesses and organisations, I am sure he has plenty of food for thought.”
Also at the roundtable, the Open University and the British Chambers of Commerce shared their recently published 2023 Business Barometer report. Read the report here.
