Former member of the Bank of England’s Monetary Policy Committee, Dr Andrew Sentance, CBE, visited the School this week to talk to Sixth Form students about his five years as a front-line economic adviser to the Government. Now working as the Senior Economic Adviser at Pricewaterhouse Coopers, Dr Sentance gave an informative and engaging insider’s viewpoint of the years he served on the committee.
With a focus on the UK, but with reference to the Lehman Brothers’ collapse in the USA and deflation in Japan, the prominent economist, awarded a CBE in 2012 for services to the economy, cut through the often bewildering jargon and clearly explained the strategic implications of the committee’s decision-making process.
He started by discussing what the Monetary Policy Committee is, how often it meets, and what it’s responsible for. He then went on to talk about the 2008 recession and the measures that they put in place to ensure that the UK stayed above the water. He discussed quantitative easing, which led to some interesting questions from both staff and students, and the need to keep inflation low by controlling interest rates.
Dr Sentance then joined some students and staff for supper in the dining halls.