Our new magazine is out, featuring loads of fab articles and photos of everyone enjoying themselves at various events. If you haven’t had it or would like extra copies for friends, colleagues and/or your reception please email us. Any feedback or ideas for the mag would be appreciated.

We also have a small number of the latest Bank Of England Report which, again we will dispatch to you  if you email us – thanks.

This Month’s light lunch will take place on Friday 28th August 2009 at 12.45pm in the Last Wine Bar in Norwich as usual.

This month Richard Larner from Brewin Dolphin will look back over the last year of stock market turmoil and look ahead into the next twelve months

Price for members is £16.00 and for non-members, £19.00

To book online click here and you will be taken to the online booking page of the IoD website (members and non-members)

10/8, Nick was invited by Barclays’ Tim Seeley, Head of Norfolk Corporate to attend a breakfast meeting featuring a half year update on the current economic climate through the eyes of Paul Robinson, Chief Sterling Economist for the Bank. It was held at our IoD hub and Paul was beamed in from Canary Wharf via the video conferencing suite.  His talk was brilliant with some interesting opinions voiced.

Here’s some of them;

Firstly this is the worst recession since 1929.

Interest rates look to be going up next year (possibly 2nd qtr) but not by a huge amount and probably not back to 5% yet.

The availability of credit is still sticky, fuelled by the need for banks to reduce their balance sheets and lend cautiously.

Sterling value has been hit badly because the UK was seen, by the rest of the world, as risky. This was because we are heavily reliant on the financial industry, our households are dependent on credit and our government has not put anything away for a rainy day. This negative risk weighting is gradually correcting itself although Sterling will still remain weak because our particular combination of problems is seen globally as British! However Sterling is forecasted to get marginally stronger in the coming months.

Future growth will come from the global economy and trade, not via domestic government or consumer spending. Therefore it will be necessary for the next government to curtail public spending.

This second round of quantitive easing has taken the City by surprise and it is widely thought that, as the Bank of England can only forecast forward by using backwards (or old) data, it is erring on the side of extreme caution in order to stall any dip down again thus producing a W shaped recession.

Finally it was thought that this recession will not follow the shape of a letter (U or W) but, having dived sharply, will recover gently.

Some strange things have happened at our events in the past but at the event last night…….

Yes, Stuart showed us all what a tough-nut he is by changing into his speedo’s at the end of the evening and diving into the hotel’s pool to sounds of wolf whistles and applause –

The evening began in a much more civilised manner, we were given a very warm welcome by Don and Jill Fleming, the owners of Norfolk Mead Hotel.  James Long, MD of Corney & Barrow Wine Merchants then took centre stage for an evening of wine tasting.

We all sampled several wines ranging from everyday to those for special occasions.

With the wine tasting complete, we tucked into a delicious barbeque, as the sun went down, and were then treated to the impromptu swimming demonstration…!

The Bank of England will be presenting the latest reports on the prospects for the UK’s economy at the Norfolk IoD Hub (Financial Skills Academy) 5pm, Friday August 14th 2009.

You never know, we might even be in for some good news!

Tickets for members and non-members are £18.26

To get tickets please use the online booking system at the IoD website (click here)