SUERF/National Bank of Slovakia Workshop
Wednesday, October 5, 2022
The current environment of high inflation, tightening monetary policy, and more generally a highly uncertain macroeconomic outlook creates new challenges to macroprudential authorities throughout Europe and the world. Macroprudential policy is still a relatively new economic policy tool, and this is practically the first time since macroprudential policy has become widely used in the aftermath of the Global Financial Crisis, that policy interest rates are on a clear upward trajectory in response to severe inflationary pressures. As a result, it is currently particularly challenging for macroprudential policy makers to assess the impact of macroprudential tools on the demand and supply of loans, on asset prices, credit risk and other fields related to financial stability.
To discuss the potential implications of these development, especially tightening monetary policy, on macroprudential policy, SUERF, together with the National Bank of Slovakia organizes a workshop entitled "Macroprudential Policy and the End of the Zero-Interest-Rate Environment" The aim of the workshop is to bring together the cross-country perspective of international organizations and recent country-specific experiences in dealing with this new and challenging environment for macroprudential policy making.
The workshop will be held on Wednesday, 5 October 2022 in hybrid format at the National Bank of Slovakia in Bratislava as well as online.
Scientific coordination: Ernest Gnan, OeNB and SUERF, Reiner Martin and Ján Klacso, Národná banka Slovenska
|Wednesday, 5 October 2022|
|12:00||Registration and standing lunch|
Ludovit Odor, Deputy Governor, Národná banka Slovenska
Chair: Ludovit Odor, Deputy Governor, Národná banka Slovenska
|13:45||Session 1: Global comparative perspective: monetary policy tightening – what role for macropru|
Chair: Fátima Silva, Head of Macroprudential Policy Division, Banco de Portugal
Christopher Erceg, Deputy Director, Monetary and Capital Markets Department, IMF
Aaron Mehrotra, Senior Economist, Monetary and Economic Department, Emerging Markets, BIS
Marco Lo Duca, Adviser, Macroprudential Policy, ECB
|15:45||Session 2: Country perspectives|
Chair: Reiner Martin, Director - Head of Research, Národná banka Slovenska
Markus Schwaiger, Director, Department for Financial Stability, OeNB
Marek Licak, Director Financial Stability Department, Národná banka Slovenska
Jan Frait, Member of the Board, Czech National Bank
|17:15||End of workshop|