Bank of England boss visits Nottinghamshire school

From left, Retford Oaks principal Heather Widdup, Mark Carney, John Mann and executive principal David Cotton.
From left, Retford Oaks principal Heather Widdup, Mark Carney, John Mann and executive principal David Cotton.

The Governor of the Bank of England visited a Retford school to answer students’ burning questions about the nation’s economy.

Mark Carney, along with Bassetlaw MP John Mann, were greeted by a musical performance as they arrived at Retford Oaks Academy for a question and answer session with 70 school students from across the district.

Mr Carney spoke of the similarities in his background to those of the students, growing up in a small Canadian town in the Arctic Circle and attending a state school, and encouraged the youngsters to pursue a career that interests them.

He said: “While you are living through this journey, you should be doing things that are as interesting as possible, and that includes being flexible in terms of your potential career, being adventurous in your choices and using jobs as an investment.”

Students’ questions ranged from the impact cryptocurrency could have on the UK economy, to how the World Cup could affect interest rates.

Asked by one student whether he believed that, post-Brexit, the pound could drop as low as it did after the EU referendum, Mr Carney said: “The short answer is I don’t know, I don’t know where the currency will go.

“What we have to do around the key March date – much as we did around the referendum – is think ‘what is the worst possible scenario’.

“Remember that I have just committed to all of you here to keep your money safe, so we need to make sure the banks are ready for that worst case scenario.”

Heather Widdup, Retford Oaks principal, said: “We were delighted to host Mr Carney and would like to thank him for giving our students this incredible opportunity.

“I hope this gave our students that extra drive to follow their aspirations, which we know they are capable of.”