The Bank of England is holding a public engagement event in Leeds to hear directly from households and businesses about their experience of the cost of living, as part of a programme of regional visits designed to ensure that the central bank's understanding of the economy is informed by the lived experience of people across the country.
The event, which is open to the public, will be attended by members of the Monetary Policy Committee and the Bank's network of regional agents. It will provide an opportunity for people in Yorkshire to describe how rising prices have affected their household budgets, their business decisions and their expectations for the future.
The Bank has been criticised in the past for being too London-centric and for making decisions that affect the whole country based on an understanding of the economy that is drawn disproportionately from the experience of the South East. The regional engagement programme is part of an effort to address that criticism and to ensure that the Bank's decisions are informed by a genuine understanding of economic conditions across the United Kingdom.
The Governor has made clear that he regards these events as an essential part of the Bank's decision-making process. "We cannot make good policy from behind a desk in Threadneedle Street," he has said. "We need to hear from the people whose lives our decisions affect, in the places where they live and work."
Join in — free. Comments on Daily Junction are for members, so real names stay rare and bots stay out.
One field. We email you a 6-digit code — no password needed. Your comment is kept while you do it.
Under 13? You’ll need a parent’s OK first — it takes them one click.