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Bank of England boss gives C&W businesses economic insight

L to R: Louise Wall, Michael Saunders and David Burton (Chamber of Commerce).

Around a dozen businesses from Coventry and Warwickshire have been allowed into the inner sanctum of the British economy.

The firms from across the area were invited to hear Michael Saunders – a member of the Bank of England’s Monetary Policy Committee (MPC) – give a lowdown on the economy at a behind-closed-doors session at Coombe Abbey Hotel.

Saunders, a former economist at Citigroup, was one of three members of the MPC to vote for a rise in interest rates last month.

Louise Wall, of the Coventry and Warwickshire Chamber of Commerce, said the session allowed businesses to raise financial issues with Saunders and also to hear his take on the economy.

She said: “It was a fascinating session which covered topics such as inflation, currency exchange and Brexit.

“It really is a two-way street – the Bank of England is keen to garner intelligence from businesses across the country and obviously hearing the thoughts of such a prominent figure in the UK economy is very valuable and interesting to our members.”