The UK and Global economic outlook: a macroeconomic perspective

Yael Selfin, Chief Economist at KPMG (UK), gave an evening lecture to Sixth Form boys which explored the impact of recent economic shocks on global economies, including covid, the invasion of Ukraine and the change in the US administration. She discussed the relationship between the economies, as well as the mechanisms driving inflation and interest rate rises. Finally, Yael explained the process of scenario-planning which informs the advice she gives to businesses, before concluding what the UK can do to encourage economic growth and why there is reason for optimism.

Audience member Xander (OH4) commented, “I really enjoyed tonight’s talk. It was fantastic to get a professional outlook on the current global macroeconomic environment and the issues facing our UK economy specifically, and I’m certain that a lot of what we learned will be very useful to us both inside and outside of the classroom. I particularly enjoyed hearing about what top macroeconomists were thinking regarding possible methods of stimulating business investment in the UK (the lack of which has long been an issue) and how the volatile global geopolitical climate has impacted, and will continue to impact, our economy. It has definitely brought my attention to new topics, and I look forward to researching them in more depth!”

Arjun (HS5) added, “I was particularly interested to hear Yael’s view that the UK should prioritise trade and foreign policy based on relationships with the Eurozone as opposed to the US, despite the latter’s faster trend rate of growth. It has inspired me to read about and consider how the UK can repair and create new, enduring relationships with the EU in this post-Brexit era.”