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Monetary Policy in an Era of Transformation: A Review of ECB Forum on Central Banking

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  • Andrey Sinyakov

    (Bank of Russia)

Abstract

In early July 2024, the European Central Bank held a forum on central banking titled 'Monetary policy in an era of transformation'. Our review summarises the academic part of the forum, focusing on the topics of inflation, economic growth, and climate and geopolitical risks - issues which are of practical relevance for central bank policy, as well as on the topic of long-term equilibrium interest rates and their role in monetary policy decision-making.

Suggested Citation

  • Andrey Sinyakov, 2024. "Monetary Policy in an Era of Transformation: A Review of ECB Forum on Central Banking," Russian Journal of Money and Finance, Bank of Russia, vol. 83(3), pages 92-105, September.
    • Handle: RePEc:bkr:journl:v:83:y:2024:i:3:p:92-105
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    References listed on IDEAS

    as
    1. Hélène Rey, 2015. "Dilemma not Trilemma: The Global Financial Cycle and Monetary Policy Independence," NBER Working Papers 21162, National Bureau of Economic Research, Inc.
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    More about this item

    Keywords

    monetary policy; inflation; climate risks; geopolitical shocks; productivity; equilibrium interest rate; economic research;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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