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Venue

Bocconi University, BAFFI CAREFIN (Aula AS01, Via Roentgen 1, Milano, 20136) and online via Zoom.

Format

hybrid, Milan

Date

Monday, May 8, 2023
Monday, May 8, 2023

In cooperation with

Orderly market functioning is the cornerstone of monetary and financial stability. Recent years have seen several high-profile episodes of financial market dysfunction, eliciting responses of central banks across the world, and potential new challenges are on the horizon. Against the backdrop of greater volatility and rising rates, central banks have a role to play on several dimensions, including: how to preserve market functioning in a context of rapid withdrawal from a decade-long policy accommodation; how to address financial fragmentation and ensure a smooth transmission of monetary policy; how to identify the optimal level of excess liquidity in the financial system and define the most appropriate operational framework to steer short-term interest rates in the post-pandemic environment. The workshop will discuss these topics.

Program

Time
Monday, 8 May 2023
16:45
Registration
17:00
Opening and welcome
Donato Masciandaro, Director, BAFFI CAREFIN Centre, and Intesa Sanpaolo Chair in Economics of Financial Regulation, Bocconi University I SUERF

Keynote Sppech: Monetary Policy Normalization and Market Functioning in the Euro Area

Imene Rahmouni-Rousseau, Director General of Market Operations, European Central Bank
17:35
Discussion
Stefano Caselli, Dean, SDA Bocconi School of Management, and Algebris Chair of Long Term Investment and Absolute Return, Bocconi University
Marco Brancolini, Head of EUR Rates Strategy, Nomura
Moyra Longo, Il Sole 24Ore
18:30
Conclusion