Financial markets can and should be powerful drivers of prosperity. They finance trade, investment and growth. They price and allocate capital, and they transfer risks to those most able to bear them.
Markets affect everyone. But they can go wrong. Left unattended they can be prone to excess, instability and abuse. In order for markets to regain their social license, it is vital that public authorities and private market participants work together to reverse the tide of ethical drift. This cannot be a one-off exercise and needs continuous engagement so that market infrastructure keeps pace with market innovation.
Therefore the Bank will hold an Open Forum on 11 November in the Guildhall. To map a positive future for financial markets, the event will bring together policymakers, financial market participants and users, academics, media representatives and wider society.
Public registration is now open. The online portal will be available until 23 October, with attendance determined shortly thereafter by a ballot. But with the debate on social media already underway (#BoEOpenForum) and live webcasts available on the day, the Open Forum is open to everyone.
Interview on the Open Forum with Andy Haldane in the Guildhall