Past Event

CANCELLED: How adequate is the European toolbox to deal with financial stability risks in a low rate environment?

Bruegel is delighted to welcome the governor of the Central Bank of Ireland, Gabriel Makhlouf. He will deliver a keynote address about how adequate the European toolbox is to tackle financial stability risks in a low rate environment. Following his speech, a panel of experts will further discuss the topic.

Date: March 31, 2020, 12:30 pm Topic: European Macroeconomics & Governance

Policy rates have been near (or even below) zero for almost a decade, while long term interest rates have been overall on a decreasing trend for several decades and have even been flirting with zero in some European countries for the last 5 years. Moreover, markets now expect rates to be at a low level for the foreseeable future.

This event will discuss the implications of a ‘low for long’ world on financial stability, as well as the adequacy of the European toolbox and institutional setup (in which responsibilities are scattered across several authorities: ECB, ESRB, national macro-prudential authorities, etc.) to deal with financial stability risks in this low rate environment.

Registration for this event is not yet open. 


Please note the following precautions in relation to the coronavirus:
  • Even though we are going ahead with our event, please take note that the event will be livestreamed on the webpage of the event (linked above), and you can watch it safely from your office or home. Unless you plan to actively participate in the discussion, we would kindly appreciate if you opted for watching the livestream, to avoid big crowds.
  • Please also do not attend this event if in the last 14 days you have been to China or Northern Italy areas classified by the Italian authorities as a so-called red area/”area rossa”: Bertonico; Casalpusterlengo; Castelgerundo; Castiglione d’Adda; Codogno; Fombio; Maleo; San Fiorano; Somaglia; Terranova dei passerine; Vò, or other risk areas.
  • During the event: Do not shake hands with other participants. Wash your hands frequently. When coughing and sneezing, cover mouth and nose. Avoid close contact with anyone showing symptoms of a respiratory illness.

Schedule

Mar 31, 2020

12:30-13:00

Check-in and lunch

13:00-13:20

Presentation

Gabriel Makhlouf, Governor, Central Bank of Ireland

13:20-14:10

Discussion

Chair: Guntram B. Wolff, Director

Agnès Bénassy-Quéré, Member of the board

Gabriel Makhlouf, Governor, Central Bank of Ireland

14:10-14:30

Q&A

14:30

End

Speakers

Gabriel Makhlouf

Governor, Central Bank of Ireland

Guntram B. Wolff

Director

Agnès Bénassy-Quéré

Member of the board

Location & Contact

Bruegel, Rue de la Charité 33, 1210 Brussels

Matilda Sevón

[email protected] +32 2 227 4212

Read article More on this topic More by this author
 

Podcast

Podcast

Can central banks save the planet?

“We are not going to lead our society to a low-carbon economy by continuing to finance the status quo. “

By: The Sound of Economics Topic: Energy & Climate Date: February 24, 2021
Read article More on this topic More by this author
 

Blog Post

A brown or a green European Central Bank?

The European Central Bank portfolio is skewed towards the brown economy, reflecting a bias in the market. Can and should the bank deviate from the market allocation?

By: Dirk Schoenmaker Topic: Energy & Climate Date: February 24, 2021
Read article More on this topic More by this author
 

Opinion

Central banking’s brave new world

Ever since the 2008 financial crisis, central bankers have been busy developing new policy instruments to fight fires and ward off emerging threats. Nonetheless, many secretly dreamed of returning to the good old days of cautious conservatism (with financial stability taken seriously).

By: Jean Pisani-Ferry Topic: Global Economics & Governance Date: February 24, 2021
Read article More on this topic More by this author
 

Blog Post

US separates climate concerns from financial oversight in contrast to EU activism

Different EU and US supervisory approaches to climate risk may hamper efforts to work together and risk fragmenting global markets.

By: Rebecca Christie Topic: Finance & Financial Regulation Date: February 18, 2021
Read about event
 

Past Event

Past Event

Disruption or transformation: the impact of a digital euro on the financial system

How would a digital Euro impact the financial system?

Speakers: Fabio Panetta and Guntram B. Wolff Topic: European Macroeconomics & Governance, Finance & Financial Regulation Date: February 10, 2021
Read about event More on this topic
 

Past Event

Past Event

In search of a fitting monetary policy: the ECB's strategy review

The ECB is reviewing its monetary policy strategy. How to ensure monetary policy is fit for purpose in a fast changing world?

Speakers: Maria Demertzis, Philip Lane, Reza Moghadam and Erik F. Nielsen Topic: European Macroeconomics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: January 27, 2021
Read about event More on this topic
 

Past Event

Past Event

Monetary and fiscal policy interaction in times of Next Generation EU

Could Next Generation EU enable a better coordination of monetary and fiscal policy

Speakers: Lorenzo Bini Smaghi, Grégory Claeys and Hans Vijlbrief Topic: European Macroeconomics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: January 20, 2021
Read article Download PDF
 

Parliamentary Testimony

European Parliament

Monetary Policy in the times of corona: many unknown unknowns

Testimony to the European Parliament on monetary policy.

By: Maria Demertzis and Marta Domínguez-Jiménez Topic: European Macroeconomics & Governance, European Parliament, Testimonies Date: December 21, 2020
Read article More by this author
 

Podcast

Podcast

Steering the boat towards an unknown destination

Shocks pass, but change remains a constant. We need to start focusing on permanent changes in the economy and how to adapt to them.

By: The Sound of Economics Topic: European Macroeconomics & Governance, Global Economics & Governance Date: November 25, 2020
Read article Download PDF
 

External Publication

European Parliament

Monetary policy in the time of COVID-19, or how uncertainty is here to stay

The COVID-19 crisis has compounded the uncertainty that has come to characterise the European economy. We explore how this uncertainty manifests itself in terms of ECB decision-making and the long-run challenges the ECB faces.

By: Maria Demertzis and Marta Domínguez-Jiménez Topic: European Macroeconomics & Governance, European Parliament, Testimonies Date: November 12, 2020
Read article Download PDF
 

External Publication

How Can the European Parliament Better Oversee the European Central Bank?

This paper, written at the request of the Committee on Economic and Monetary Affairs, assesses how the European Parliament holds the European Central Bank accountable. The same exercise is done for the Bank of Japan, in order to identify possible lessons for the ECB and the European Parliament.

By: Grégory Claeys and Marta Domínguez-Jiménez Topic: European Macroeconomics & Governance, Global Economics & Governance Date: September 23, 2020
Read about event
 

Past Event

Past Event

Bruegel Annual Meetings 2020 - Day 1

The Annual Meetings are Bruegel's flagship event which gathers high-level speakers to discuss the economic topics that affect Europe and the world.

Topic: Energy & Climate, European Macroeconomics & Governance, Finance & Financial Regulation, Global Economics & Governance, Innovation & Competition Policy Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: September 1, 2020
Load more posts