Speakers
Public Authoritiess
Ashok
Advisor, European Department - International Monetary Fund (IMF)
Boštjan
Governor and Member of the Governing Council of the ECB - Bank of Slovenia
Boris
Governor - Croatian National Bank
Guillaume-Pierre
Governor and Member of the Governing Board of the ECB - National Bank of Belgium
Madis
Governor - National Bank of Estonia (Eesti Pank)
Mārtiņš
Governor and Member of the Governing Council of the ECB - Bank of Latvia
Yannis
Governor & Member of the Governing Council of the ECB - Bank of Greece
3s
Axel A.
President, Center for Financial Studies - Goethe University Frankfurt
Jacques
Honorary President - EUROFI
Objectives
The session will not discuss the timing of rate cuts—many others are doing that.
Instead, it will explore some deeper questions in monetary policy. First, is there an implicit assumption now that we are very soon returning to the easy times of low-for-long interest rates? Second, has it already been concluded that central bank balance sheets must remain large forever? The roundtable will seek to encourage a vibrant debate on these issues.
Points of discussion
- Are we returning to a world where real interest rates are at zero? What lessons should be drawn from the many years of negative policy rates and easy money?
- Is it already decided that central bank balance sheets must remain large forever? What are the tradeoffs of a large structural bond portfolio?