This year’s City, University of London’s MA Financial Journalism and Erasmus Mundus students visited the Bank of England’s (BoE) iconic headquarters on 9 November 2023. 

After a seamless security check at the bank’s reception, the visiting students were received by Nicola Heathman. She led the students to the lock-up room in the basement where economics reporters are left to write their stories without wi-fi or access to the outside world ahead of a major market sensitive announcement by the central bank.

On arrival at the room, Henry Tanner, the deputy chief press officer of the BoE, gave a breakdown of some of the statutory roles the Bank plays in maintaining monetary stability and overseeing the financial stability of the UK financial system.

He also gave an overview of how the press unit of the Bank handles the flow of announcements as well as how it deals with crisis management. 

Mr Tanner said the Bank of England’s press unit has a good working relationship with financial and business journalists as they are partners in progress in the dissemination of accurate and timely information to the public.

He also answered some questions raised by the students which ranged from the independence of the Bank, its relationship with other central banks and the European Central Bank, and its recent intervention in the markets that effectively bailed-out the pensions sector.

Mr Tanner said the Bank last autumn intervened in the pension industry to stabilise the industry in the wake of the upheaval caused by the controversial mini-budget of the Liz Truss government.