New Bank of England Agency Opened in Exeter

Eddie George opened the Bank of England's new regional office in Exeter on Friday 23 May. This is the central base for the Bank's Agency for South West England.
Eddie George opened the Bank of England's new regional office in Exeter on Friday 23 May. This is the central base for the Bank's Agency for South West England.

Source: Bank of England

In Exeter today, Sir Edward George, Governor of the Bank of England, opened the Bank's new regional office at 11-15 Dix's Field. This is the central base for the Bank's Agency for South West England. The Agency also continues to be represented through its Bristol office, in Redcliff Quay. The Bank's plan to open an office in Exeter was announced by the Governor-elect, Mervyn King, last October.

Sir Edward and the Bank's Agent in the South West, Kevin Butler, and Deputy Agent, Geoff Harding, welcomed 80 civic and business leaders from Devon, Cornwall and Somerset to the opening reception at lunchtime today.

In commenting on the Bank's decision to open its new base in the South West, Sir Edward said "The regional Agents play a very important role in reporting to the Monetary Policy Committee on the UK economy, as seen from each of the UK regions, based on a programme of face-to-face discussions with a large number of business and other contacts."

The Agents and their small teams also organise Inflation Report Briefings and take part in a range of meetings with groups of business people to discuss economic conditions. During the morning, Sir Edward attended one such meeting, organised by the Exeter Chamber of Commerce and hosted by Michelmores Solicitors. Sir Edward noted that this and similar meetings that took place regularly around the country gave the members of the Monetary Policy Committee an opportunity to hear about business conditions directly from the business community in addition to the monthly feedback they received from the Agents.

Sir Edward's programme also involved a visit to Exeter University to unveil the foundation stone of the new Centre for Finance and Investment - Xfi.

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