Bank of England 2010 full-time intake

Bank of England
#1

So. The deadline was last Friday and yet I haven’t seen any topics on the BoE.
Did anyone apply (I’m not even asking if anyone has heard back! lol)?

#2

@clevergirl25

Unfortunately, I consider the Bank of England incompetent at managing the economy. The hard inflation targeting Taylor Rule adopted by the BOE is as responsible for the crash as other counterparties. George Soros bought them to their knees and rightfully so. I hold them as responsible as the banks for the current predicament we find ourselves in. The pound probably will weaken in the next few years and they will be burdened with enormous debt in the economy. I personally would never apply to an institute for which I have such little hope and respect.

#3

Don’t forget the danger of inflation or even worse deflation looming!!!

#4

okay, probably not the response she was expecting, but educational at the least.

#5

LOL

I believe there is hardly been a better time to work in a central bank - even if the guys get everything wrong, it’s still a pretty useful experience for later in life.

#6

@clevergirl

I am compelled to answer given the recent posts on this thread. My question is why would you want to work for an institute that clearly will always lag behind the private sector given asymmetric information?

I have deployed a “steepner swap play” using Barclays ishares to exploit the mismangement on behalf of the BOE. The private sector i.e. hedge funds have historically profited from the slow reactions of Central Banks. No question as`ked: given quantitative easing, the gigantic fiscal stimulus we are bound to get inflation down the line. I have personally already undertaken reflationary trades. The solution is not to create artifical growth but to let the economy naturally recover.

I respect your wish to work for the BOE, personally I want to profit i from their incompetancies. I can’t wait to become a money manager soon as I see the BOE as a “low hanging fruit”!

God Bless the BOE!!!

#7

Interesting.

I believe the answer to your question (why would I want to work for them) lays with my longer-term career goal, which is policy :slight_smile:

Good luck with your exploits - just don’t get over-confident.

#8

@ Clevergirl

I commend your choice of career.

With reagrds to my exploits: it is a no brainer from my perspective!!! Christmas doesn’t come around everday!!! Haha!

Good Luck!!!

#9

@Clevergirl

Here is an update on my investment. The ploy is called a “Steepner Swap Play” and as I was unable to procure swaps, I used Barclays ishares. The bet basically is that the gap between a 10 year gilt and 2 year gilt will get wider.

The following extract from the FT:
According to this weekend’s Financial Times, the gap between two and ten-year Treasury yields hit 276 basis points (2.76% in humanoid speak) last week.

That’s the highest gap on record, beating:

August 2003, when the gap reached 274bp
July 1992, when the gap was 268bp

My next venture involves the FFR(Federal Fund Rate) future options. I am convinced that the Federal Reserve will increase interest rates by early or mid 2011. Even though the Federal Reserve last time insisted on a “sustained period” of low interest rates, I am not convinced.

Merry Christmas

#10

have you done yours yet if so whats it like, any advice