Students meet Bank of England policymaker

A new member of the Bank of England’s Monetary Policy Committee (MPC) has given her debut speech to University of Leeds students.

Read our article about Deputy Governor at the Bank of England, Dr Ben Broadbent’s visit to Leeds in 2021. 

Megan Greene, an external MPC member, outlined her views on the UK economy along with the outlook for inflation and interest rates. 

She weighed the risks of inflation persistence, in particular services inflation and wage growth, with weakening activity and also considered how the UK’s medium-term outlook may have shifted, and what this could mean for monetary policy.

I always enjoy showing students how the theories they are studying work in the real economy.

Megan Greene, external MPC member

The event was hosted by the Accounting and Finance Department at Leeds University Business School. 

Megan said: “It was a pleasure to visit Leeds University Business School and deliver my first speech as a member of the Monetary Policy Committee. 

“The study of economics has so many practical applications, and I always enjoy showing students how the theories they are studying work in the real economy. Both in the Q&A and in follow up discussions, I was impressed by the intellectual curiosity of students I met, and I look forward to visiting again soon.”

Following her speech, Megan spoke with Eric Lonergan, a macro hedge fund manager, economist and writer to unpack some of the content in the speech. 

Students were able to ask questions during a Q&A session to understand, for example, why the MPC is expecting inflation to come down to 2% by 2025. 

Professor Julia Bennell, Executive Dean of Leeds University Business School, said: “It’s an honour that Megan Greene chose Leeds for this special occasion of delivering her first public speech since she joined the MPC last summer.”

Dr Danilo Mascia, Associate Professor in Banking and FinTech and Director of MSc Banking and International Finance, added: “The talk really highlighted the fundamental role of the Bank of England in shaping monetary policy, and it was really inspiring to see our students engaging with such a key member of the MPC, who make decisions on the Bank Rate.”

The independent MPC makes decisions about the operation of monetary policy. External members to the MPC ensure that the Committee benefits from thinking and expertise in addition to that gained inside the Bank. 

Professor Jeff Grabill, Deputy Vice-Chancellor: Student Education at the University of Leeds, said: "Our students regularly benefit from visits by leading experts in their fields and it is fantastic that Megan Greene chose to do her first speech here at Leeds. 

“These opportunities to interact with industry leaders enrich our student experience and enable attendees to gain a deeper insight into the role of the Bank of England and the UK economy.”

Megan Greene is a Senior Fellow at the Watson Institute for International and Public Affairs at Brown University, teaching on the new drivers of global inequality, sovereign debt crises and monetary policy tools.

As well as sitting on the Bank of England’s Monetary Policy Committee, she is a board member of the Academic Advisory Committee at the San Francisco Fed. Previously she served as Global Chief Economist at Kroll and was a contributing editor at the Financial Times. 

Further information

For more information, please contact Rebecca Hurrey at in the University of Leeds Press Office. 

Picture credit: Simon and Simon Photography.