Bank of England asks people in County Durham about cost of living - EUROPE SAYS
The Bank of England is interested to hear from people in County Durham about the impact of the cost of living on their finances, as part of their Citizens’ Forum programme, which has been running across the. . .
The Bank of England is interested to hear from people in County Durham about the impact of the cost of living on their finances, as part of their Citizens’ Forum programme, which has been running across the UK since 2018. The event is designed to gather information from local people, which will complement existing data and analysis, and help inform the Bank’s policy decisions. Monetary policy has been guided by the need to squeeze inflation out of the economy to achieve the 2 per cent target, both in a timely manner and on a lasting basis. High inflation has affected everyone, but it particularly hurts those who can least afford it. War in the Middle East has led to energy price rises, and inflation will be higher than expected this year. We are monitoring the situation very closely, and at the June meeting the Monetary Policy Committee (MPC) maintained Bank Rate at 3. 75 per cent. The event in Durham on Thursday, 6 August (6pm-8pm) will give attendees the opportunity to share their views with senior Bank officials supported by staff from the Bank’s Agency for the North East. Entry is via pre-registration for forum members only, but anyone aged over 18 is eligible to join our community and register to attend the Durham panel session before Friday, 17 July, when registration closes. Refreshments will be provided, and the Bank will make a payment of £25 to all attendees to cover expenses. The Bank holds about 12 panel events a year across the country, covering all English regions and the devolved nations. Each panel has an independent chair, a senior figure in the community who also champions the forum. It typically hosts between 30 and 40 forum members at each session, aiming for our audience to be as representative as possible. Read moreCounty Durham event honours armed forces and renews pledge of supportManufacturing summit in County Durham raises £11k for heart charityCounty Durham town to welcome back miners’ banner parades ahead of Durham GalaAttendees are split into small groups to discuss the agenda topics and each session concludes with a Q&A session, where you can ask our policymakers questions. After each event, the Bank produces an anonymised write-up, which is shared with the attendees as well as with relevant stakeholders at the Bank. The intelligence gathered is included in a regular Agents’ summary of business conditions and an annual Outreach report. Tags:Bank of Englandcentral bankCentral BanksCentral Banks of the European SystemCounty DurhamDeutsche BundesbankECBEconomyESCBEuropeEuropeanEuropean Central BankEuropean Central BanksMonetary PolicyMonetary Policy CommitteeTHE BANK OF ENGLANDThe Bank of FranceThe Bank of Italy