Bank of England monetary policy committee member “Kate Barker” visited the province, during her fact finding trip she visited Alwood to better understand the economic changes we have experienced.
After a full tour of the showroom and the factory we sat down for a talk about the reasons for her visit and the bigger picture of the economy. Quantitative easing, the Southern Markets, the strength of the pound and increased supplier cost were all brought up and Mrs Barker was genuinely interested in our opinions and current financial position. She went on to explain how important these types of meetings are to the Bank of England and how they put faces to the reports they receive from all over UK. Also in turn how those reports play their part in planning monetary policy, particularly as small business make up such a large part of the local economy.
We didn’t get any sneak previews or predictions as to what the base rate was going to do, but it was very encouraging to see just how courteous and knowledgeable Mrs Barker was of our local situation.