Bank of England Deputy Governor gives speech at LSBU
25 February 2016
Over 150 students, staff and alumni in London South Bank University (LSBU)'s School of Business gathered to hear Sir Jon Cunliffe, Deputy Governor, Financial Stability at the Bank of England, speak at a LSBU Centre for International Business Studies (CIBS) guest lecture held yesterday.
Jon Cunliffe became Deputy Governor for Financial Stability on 1 November 2013. He is a member of the Bank’s Financial Policy and Monetary Policy Committees, the Bank’s Court of Directors and the Prudential Regulation Authority Board.
In his speech, Jon Cunliffe constructed a big picture view of how the UK economy has evolved since the Great Recession
and what it means for monetary policy going forward. He said: “The recovery since the recession of 2008/09 has been the slowest in modern history, slower even
than that after the Great Depression." He continued by setting out two different pictures of what is happening in the UK economy - slow healing and secular stagnation - which "given enough unfortunate events and enough repeated disappointment on the pace of recovery, could
look and feel the same for a long time.” The speech concluded with a central projection that the UK economy will continue to grow solidly and that
inflation will return to target over the next few years.
The floor was then opened for questions from the audience, with Jon Cunliffe providing further insight on the future of the UK economy to those attending.
The guest lecture was arranged by CIBS, a research group established in 1992 in order to foster excellence in research, teaching and consultancy in the field of International Business. It provides a centre of gravity for much of the research work across LSBU's School of Business.