Third ESRB annual conference: Session 3: Macroprudential policy in recovering economies
Channel: European Central Bank
Date: 2018-09-28

Third ESRB annual conference - 27/28 September 2018

Session 3: Macroprudential policy in recovering economies

Major central banks have used unprecedented monetary policy measures in the aftermath of the global financial crisis. With monetary policy transmission mechanisms normalising and economies recovering, some of the major central banks have started to increase interest rates and have also announced scaling back of non-standard monetary policy operations. One important aspect in the design of a macroprudential policy is how it interacts with monetary policy, the current low interest rate environment and investors’ risk aversion. Panellists discussed how macroprudential policies can be used to contain potential related vulnerabilities and identify related challenges.

Chair:
Marco Pagano, Professor, University of Naples Federico II

Panellists:
Pierre-Richard Agénor, Professor, University of Manchester
Per Callesen, Governor of Danmarks Nationalbank
Ester Faia, Professor, Johann Wolfgang Goethe University
Daniel Gros, Director, Center for European Policy Studies, ASC Member
Peter Praet, Executive Board Member, European Central Bank