Sir Jon Cunliffe, Deputy Governor of the Bank of England
COVID-19 and measures to contain its spread are dramatically reducing jobs and incomes in the UK, and putting a strain on UK businesses’ cashflow. In accordance with its role to ensure UK monetary and financial stability, the Bank of England has put in place a package of measures that will support households and businesses, help the economy recover, and keep the financial system safe and stable. This includes cuts to interest rates; further QE; and a cut to the counter-cyclical capital buffer.
In May, the Bank of England published its quarterly Monetary Policy Report alongside an interim Financial Stability Report, providing a scenario for the path of the UK economy in the light of COVID-19, and assessing the financial system’s resilience to that scenario.
Speaking via video on 7 July, Sir Jon Cunliffe, Deputy Governor of the Bank of England, will brief Asia House Corporate Members on the economic implications of COVID-19.
Sir Jon Cunliffe became Deputy Governor of the Bank of England in November 2013. He has specific responsibility within the Bank for financial stability, for the supervision and oversight of financial market infrastructures and payment systems, and for international. He is a member of the G20 Financial Stability Board Steering Committee and is Chair of the Bank for International Settlements Committee on Payments and Market Infrastructures.
Before joining the Bank, Jon was the UK Permanent Representative to the European Union. Prior to that, he was the Prime Minister’s Advisor on Europe and Global Issues and the UK Sherpa for the G8 and G20 and the Cabinet Office Permanent Secretary responsible for EU coordination. From 2002 to 2007, Jon served as Second Permanent Secretary at HM Treasury, Managing Director of the Macroeconomic and International Finance Directorate.
This digital briefing is off-the-record and moderated by Michael Lawrence, Chief Executive of Asia House. It is held exclusively for Asia House Corporate Members and is part of an ongoing series of Asia House digital events with senior officials as the world grapples with the coronavirus outbreak.
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