Threadneedle Street

Programmes available:

Interns, Industrial Placements, First degree graduates, Postgraduates, PhD

Responsible for:

The International Directorate (ID) is responsible for analysing developments in, and risks to the United Kingdom from, the global economy and financial system; devising appropriate responses to them in support of all the Bank’s policy objectives; and ensuring that the Bank’s engagement in key international fora advances the Bank’s international strategy for achieving these policy objectives. To these ends we are in a unique position to serve all three policy committees and work closely with other directorates across the Bank.

What big issues might I be working on?

Given the wide remit of ID, we cover a broad range of issues. These range from conjunctural analysis on developments in other economies through to research that tackles the international aspects of the policy questions facing the Bank.

We brief the Monetary Policy Committee ahead of their meetings and are responsible for producing the international forecast for the Inflation Report each quarter. We also brief the Financial Policy Committee ahead of their meetings and analyse risks from the global economy and financial system to contribute to the Financial Stability Report. In particular, we consider how developments abroad may affect the UK in today’s globalised economy. We also brief and prepare Governors for their engagements in key international fora, such as the G20, IMF, and the Financial Stability Board (FSB).

What sort of things could I do here?

Again, given the wide remit, roles can vary widely. You could develop an expertise in a particular region and produce macro and financial stability analysis to keep policy committees abreast of the international outlook, or you could be influencing the international policy agenda. You could be answering questions such as:

  • How do we expect the output gap in a particular region to develop and why? What implications will this have?
  • How has credit provision in another economy developed and what risks, if any, may arise from this?
  • What spillovers may macro prudential policies have and what risks may be associated with this? What policy proposals may help to mitigate these risks?
  • How do we build on international prudential standards to maintain a resilient, open, and rules-based international monetary and financial system?

What could I be doing day-to-day?

There is no such thing as a typical day in the International Directorate! But in general you could be:

  • Writing reports for the policy committees
  • Work alongside colleagues around the Bank to carry out analysis
  • Brief Governors for international meetings