Businesses set for Bank of England update in Wolverhampton panel event

The free Bank of England panel event, which is exclusive to the Black Country Chamber’s Gold, Platinum and Patron Group members, will take place at the University of Wolverhampton Science Park on Tuesday, March 25 from 8.30am to 10am.

The event takes place after the UK’s central bank halved its growth forecast for this year as it cut interest rates to the lowest level for more than 18 months at its February meeting.

The economy is now expected to grow by 0.75% in 2025, the Bank said, down from its previous estimate of 1.5%. The new forecast came as the Bank cut interest rates to 4.5% from 4.75%.

The session will provide an opportunity to hear an update from the Bank of England as they outline the national economic outlook and real-time intelligence collected by the Bank’s network of agents from businesses up and down the country.

Black Country Chamber of Commerce CEO Sarah Moorhouse said: “Meetings such as this are a cornerstone of the Chamber’s policy, lobbying and representation work.

“Black Country businesses are renowned for their can-do attitude even in economically challenging times, but we recognise that members will want to attend this session to understand the outlook for growth and interest rates.

“These regular meetings ensure that Chamber members are kept up to date with goings on at the national level as well as providing businesses with the opportunity to get their voices heard.

“To ensure that the Bank of England’s economic policy represents all areas and sectors of the UK economy, members will be invited to give a brief update on a variety of business policy issues, which can help build the Bank’s understanding of the local and national economy.”

The Chamber holds regular Bank of England meetings to allow members to receive key information and give regional reports on the issues faced by Black Country firms.

Previous meetings have discussed topics such as the outlook for interest rates, forecasts for inflation and expected economic trends over the next three years.Places can be booked at www.blackcountrychamber.co.uk/events.For further information, please email events@blackcountrychamber.co.uk.

Bookings for this event will close at 3pm on Monday 24 March.