Internships, Industrial Placements, Postgraduate, PhD
First and foremost, we enable the Bank to achieve its monetary policy objective: to deliver price stability, as defined by the Government's inflation target, and maintain confidence in the currency. We provide the Monetary Policy Committee (“the MPC”) with the economic analysis and advice it needs to set monetary policy each month, and help the Committee to communicate and explain those decisions to the wider world. But above and beyond that, we serve as the macroeconomic powerhouse of the Bank, sharing our analysis and collaborating with other areas on issues such as the Bank’s annual stress tests of the banking system and the implications of ultra-low interest rates. We conduct and publish a wide array of policy-related research, shaping the external debate.
What big issues might I be working on?
Monetary policy regularly hits the headlines and you’ll help determine what they say! As well as briefing the Monetary Policy Committee ahead of their meetings, we help them produce forecasts for the UK economy and are responsible for publishing the quarterly Inflation Report. Our graduates make a vital contribution to those processes and their work has real impact on the policy debate.
We’re looking for critical thinkers who can provide high-quality analysis on a range of topics – from short-term, fast-paced assessments of the latest developments in the data to in-depth investigations of key policy issues.
Knowledge of economics is helpful, but not always essential to apply for our internship programmes – we’re open to anyone with strong analytical abilities and we welcome fresh perspectives.
What sort of things could I do here?
You’ll develop your understanding of how the economy works not just in theory but also in practice! As a new graduate, you will find that you are quickly given responsibility for monitoring a particular aspect of the economy and reporting back to the Monetary Policy Committee, answering questions like:
- How much are households spending? Can they keep that up?
- Why has productivity growth been so weak?
- What explains international co-movements in asset prices?
- How do people form inflation expectations?
What could I be doing day-to-day?
There’s a huge scope for variety in the work we do. So you could find yourself:
- Writing reports for members of the Monetary Policy Committee
- Using Google to track the latest trends in unemployment
- Meeting with local businesses to hear directly about developments in the economy
- Attending seminars and working with external economists to deepen your knowledge