One of the most influential voices within the Bank of England is coming to Cumbria next month at the invitation of Cumbria Chamber of Commerce.
Sir Jon Cunliffe, the Bank’s Deputy Governor for Financial Stability, in effect joint number two to Governor Mark Carney, will address a Chamber lunch in Kendal on Friday July 13th.
He sits on the Bank’s Financial Policy Committee and also the Monetary Policy Committee, which voted by 6-3 last week to keep the base rate at 0.5%.
Sir John was one of the six who felt it was too soon for an increase.
Business people may be just as interested in his take on Brexit given that, before joining the Bank of England in 2013, he was the UK Permanent Representative to the European Union and before that was adviser to the then Prime Minister, David Cameron, on Europe and Global Issues.
He will speak on the record, giving his view on Bank policy, and answer questions from the audience.
There will also be an informal networking opportunity to meet Sir Jon and other representatives of the Bank of England.
This is an opportunity for businesses to make their voice heard to one of the nine key individuals who hold sway over interest rates.
Rob Johnston, Chief Executive of Cumbria Chamber of Commerce, said: “It’s a vital part of our role at the Chamber to bring influencers and movers and shakers to Cumbria, and few are more influential than Sir Jon Cunliffe.
“It will be fascinating to hear his thinking on where the UK economy is going, the trajectory for interest rates and inflation, and his insight on Brexit given his experience as our most senior diplomat in Brussels.
“It’s important that Cumbrian businesses hear what he has to say, but it’s even more important that he hears what they have to say.
“This is an opportunity for businesses to make their voice heard to one of the nine key individuals who hold sway over interest rates.”
Rob added: “We will tell Sir Jon that we agree with the Monetary Policy Committee’s decision to leave interest rates on hold.
“We predicted at the end of last year that inflationary pressures would ease in 2018, and that’s exactly what has happened.
“At the same time, growth remains sluggish and businesses are struggling to contend with rising costs, many of them government-imposed such as the above-inflation increase in the National Living Wage and the doubling of employers’ auto-enrolment pension contributions.
“With the tortuous Brexit negotiations casting a shadow across the economy, this isn’t the time to add to businesses’ costs and deter investment by raising interest rates.”
The meeting with Sir Jon is at the Kendal Suite of the Castle Green Hotel, Kendal, on Friday July 13th from 11.30am. A buffet lunch will be served from noon and the event will conclude by 2pm.
This event is free to members of Cumbria Chamber of Commerce but those wishing to attend must register in advance. To register, email Derek Armstrong or call 07841 743066.