ECONOMICS TALK WITH RACHEL LOMAX
FORMER DEPUTY GOVERNOR OF THE BANK OF ENGLAND
During this year’s Cheltenham Literature Festival, seven Economics students from CLC Sixth Form were given the fantastic opportunity to meet with Rachel Lomax (1956-1962 St Hilda's), Guild member and former Deputy Governor of the Bank of England.
Mrs Lomax was at the Festival to speak about the decade-long aftermath of the 2008 financial crash, alongside former Chancellor, Lord Alistair Darling and BBC Economics Editor, Kamal Ahmed. During the meeting, she answered a broad range of questions posed by the students, such as how monetary policy had changed in the UK over the last 30 years and her views on current issues, such as the implications of increased use of crypto-currencies.
She also recounted her days at school and emphasised her concerns about the lack of women studying mathematics at higher levels, perhaps due to the notion that only the few with 'mathematic flair' should be allowed to study it.
When asked about the validity of many traditional economic models and their value in the current day, she said that to an extent they are becoming outdated, though she joked that she isn’t planning to help create any new ones, saying categorically; “I’m done - it’s your job now girls!”