All credit to the Bank of England for doing a live Q&A on Twitter at the end of last week – not only is it a good idea but it sends a clear signal that Mark Carney, the new governor, is open for dialogue. The great thing about an event like this is that the cost is minimal and through Twitter, you can get an impressive range of financial journalists, CEOs, economists and bloggers. You can also get Yoda.
Joining the debate at #AskBoE was one of Twitter’s more eccentric financial commentators – the Jedi Economist who opines on global economics in the style of the Star Wars character. So we get gems like this:
#AskBoE Pricing rate hike in 2014 Short Sterling interest rate futures have for many months.
This and other questions might have been brushed aside by lesser folk but the Bank of England chief economist Spencer Dale not only answered Yoda – who you can follow at @JediEconomist – but made an important statement.
“I think it’s very unlikely that we will raise Bank rate in 2014. We need to see sustained period of strong growth.”
This went on to be covered by Reuters. So although the Jedi Economist may seem frivolous, this social media character has succeeded in making economics fun and also making very serious points.
If you’re still a little scared by social media – click HERE for help!
- BOE Shows its Lighter Side with Twitter Foray (blogs.wsj.com)
- Bank of England polishes social media reputation – but not its gold (theglobeandmail.com)
- VIDEO: Bank of England in Twitter Q&A (bbc.co.uk)
- Bank of England’s chief economist says 2014 rate rise ‘very unlikely’ in #AskBoE Twitter chat (telegraph.co.uk)
- The Bank Of England Is Doing Something Really Cool On Twitter (businessinsider.com)