Economics, business and finance students gained insights into the inner workings of Britain’s central bank during a presentation led by Danny Walker, a senior Bank of England Ambassador. Currently serving as private secretary to the deputy governor, Danny offered students a glimpse into the world of economic policy-making and financial regulation.

The session began with a focus on the Bank’s primary responsibility: maintaining monetary stability. Danny explained how the Monetary Policy Committee (MPC) works to keep inflation at the government’s 2% target, making decisions that affect everything from mortgage rates to the pound in our pockets. Students were particularly intrigued by the complex factors the MPC considers when setting interest rates, including employment figures, economic growth, and global market conditions.

Financial stability formed another key topic, with Danny highlighting the crucial role of the Prudential Regulation Authority (PRA), describing how they ensure banks and insurance companies maintain sufficient financial reserves to handle difficult economic conditions. The ‘resolution’ process – the Bank’s procedure for handling failing financial institutions – demonstrated how lessons from the 2008 financial crisis have shaped today’s regulatory framework.

Drawing from his personal experience, Danny shared his journey from university to his current position as private secretary. His role as chief of staff and senior adviser to the deputy governor offers a unique perspective on policy-making, involving daily briefings on monetary policy, financial stability, and regulation.

The talk concluded with a Q&A as well as career advice for aspiring economists, emphasising the diverse opportunities within the Bank of England.