May 22, 2024

North Wales business leaders get direct line to Bank of England

One of the Bank of England’s monetary experts will be giving an “invaluable insight” into the economy to businesses in North Wales.

Steve Hicks, the Bank of England’s Agent for Wales, will be attending a breakfast meeting to give an off-the-record briefing to members of the Wrexham Business Professionals group at the Maesgwyn Hall on Wednesday, May 15.

The group is made up of successful businesses and skilled professionals working together to promote regional prosperity and shine a light on the enterprise and expertise that exists in the region.

Mr Hicks became Agent for Wales in June 2015 after working in Central Government where he undertook roles analysing the Labour Market, Employment Relations, Business and Regional Statistics as well as measuring National Well-being.
At the meeting Mr Hicks will be presenting the Bank of England’s Monetary Policy report for May, but he will also be there to listen about how local businesses are faring in the current economic climate.

He said: “Meetings like this are immensely valuable for Bank of England to hear first-hand from business leaders how the economy is performing, to add real colour to official statistics and to help inform policy decisions.

“As Agents’ of the Bank, we put all the information we garner together from across the UK to form a picture of not just where the economy is likely to go but also where it’s been – often that’s half the battle.

According to Wrexham Business Professionals committee member Ian Edwards, the meeting will be like “having a direct line to the Bank of England”.

He said: “Steve is a master of his brief and I am sure he will give us a fascinating and helpful insight into how the economy is doing and the prospects for the future.

“Everything the Bank of England does has an impact on businesses in Wrexham so it’s important that we are able to hear the latest thinking because it’s like being given a road map outlining what might lie ahead which is important when you’re making important decisions in business.”

Fellow committee member Louise Harper added: “I am sure we will gain a fascinating and helpful insight into how the economy is performing and the prospects for the future.

“Hopefully, there will also be an opportunity for our members and clients to venture an opinion and for our thoughts to be taken into consideration by the Bank of England.”

For more information about Wrexham Business Professionals meetings, events and campaigns go to wrexhambusinessprofessionals.com, email  [email protected] or ring 01978 752500.