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Venue

Webex
15:00-16:15 CET

Format

online

Date

Thursday, May 6, 2021

In cooperation with

Over past years, several central banks around the world have lowered policy rates below zero. Also, bond yields have entered negative territory as a result of central banks’ asset purchase programmes. How effective has negative interest rate policy been in stimulating aggregate demand and in bringing inflation up back to target? What were the effects on banks’ profitability and on the monetary transmission mechanism? What other side effects emerged?

Program

Time
Thursday, 6 May 2021
15:00
Negative Interest Rates: Effectiveness and Side Effects – Taking Stock
Welcome by Ernest Gnan, OeNB I SUERF
Moderation by Jakob de Haan, SUERF President

Negative Interest Rates: Taking Stock of the Experience So Far

Gaston Gelos, IMF Presentation (pdf)

Banks and Negative Interest Rates

Florian Heider, ECB Presentation (pdf)

Negative Interest Rates in Denmark

Jesper Berg, Finanstilsynet (Danish Financial Stability Authority) Presentation (pdf)
16:15
End