In this speech Dave Ramsden talks about resilience. He argues that the financial crisis taught us three lessons: first, that the past is not always a good guide to the future; second, that there is more to resilience than just being responsive to the narrow economic cycle; and third, that policy needs to prepare for the unexpected. And he argues that the Bank’s approach to Brexit has been guided by all three of these lessons.
More on the speech here
The Bank of England is the central bank of the United Kingdom. Sometimes known as the “Old Lady” of Threadneedle Street, the Bank was founded in 1694, nationalised on 1 March 1946, and in 1997 gained operational independence to set monetary policy.