A group of CEOs and Directors from across the West Midlands joined in the discussion; chaired by Graeme Chaplin, the Bank of England’s Agent for the West Midlands and Oxfordshire regions. We were also joined by Daniel Amure, representing the Bank of England, and Sarah Breeden, appointed Deputy Governor for Financial Stability.
These sessions provide a key insight into the challenges faced by business leaders, both across the West Midlands and the wider UK. Louise Delaney, Client Relationship Officer at EFG Private Bank joined in the conversation, highlighting key investment themes noted throughout 2024.
The base rate set by the Monetary Policy Committee remains at 5.25%, which has generated significant income for banks since 2021. From an alternative view, this can increase the cost of lending which can have a significant impact on businesses, striving to balance rising fixed costs and changes in consumer spending.
Many of the topics discussed are common challenges, some experienced by a proportion of our entrepreneurial clients. Having these conversations with local business leaders allows us to further recognise how this has impacted individuals, both at work and on a personal level.
“We look forward to hosting these roundtable events with The Bank of England. Meeting business owners face to face from across the region allows us to really understand and empathise with the challenges they’re experiencing.”
Louise Delaney, Client Relationship Officer at EFG Private Bank