Monetary policy and stable prices in times of massive structural change – that’s what the 52nd economic conference is about, which today and tomorrow tends to bring top -class experts: inside on these topics in Vienna. “The current structural upheavals are an opportunity for the euro as an international reserve currency, but also raise new questions for monetary policy,” said OENB governor Robert Holzmann in his opening speech.
The most important task of a central bank is to protect price stability – a task that is not easier. Central banks have to stay in motion and constantly develop themselves and their tools. “Our world has lived through economic and geopolitical quakes recently that shake long -valid assumptions and institutions.” With these words, National Bank governor Holzmann opened the 52nd economic conference in Vienna today. The two -day conference takes place under the title “Monetary Policy and Structural Tectonic Shift” and is organized jointly by the Austrian National Bank (OENB) and Suerf (The European Money and Finance Forum).
Today’s environment demands more central banks than ever
“Today’s central bank operates in a complex interwoven environment, which is more demanding than ever,” emphasized Holzmann and referred to some central challenges:
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Artificial intelligence: “The latest developments in the field of artificial intelligence could fundamentally change our way of life – and with it the structure of the global economy.”
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Innovative financial products: “The rapidly growing global range of stable coins like Tether and USDC coupled to the dollar has serious regulatory and monetary effects.”
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Trump government: “Due to the constantly changing economic signals from the United States, the unpredictable has achieved a new extent. This makes the already complex task of political decision -making.”
How can central banks react?
The Trump government has decided to withdraw from important international initiatives and committees. Even membership in the International Monetary Fund is currently being questioned. Exercise of the Central Banks worldwide again-also at the economic conference: How central banks can handle an ever-changing environment and changing conditions on the offer side by leading experts is discussed by leading experts.
New strategies for monetary policy
In order to be able to discuss promising strategies for monetary policy, hosts Oenb Governor Robert Holzmann and Suerf President Donato Masciaandaro invited many well-known lecturers to the conference, including: Daniel Gros (Institute for European Policymaking @ Bocconi University), HUW Pill (Bank of England) and Klaus Schmidt-Hebbel (Universidad DEL Desarrollo) – as well as numerous other experts: inside of monetary policy and economic research. “Your findings will help to beat a bridge between scientific perspectives and political practice,” added Holzmann.
The economic conference
The economic conference of the Austrian National Bank (OENB) has been networking leading personalities in the field of economic research, central banking and banking supervision for many decades. The organization has been taking place together with the cooperation partner Suerf for several years.
Suerf (The European Money and Finance Forum) is an independent non-profit network that combines central banks, supervisory authorities, financial institutions and financial actors. More information at: www.suerf.org.
Registration at the OENB website at: www.oenb.at.
Requestation of the question:
Please questions about the conference:
Dr. María T. Valderrama
Head of the monetary policy
Tel.: +43-676-5014749
maria.valderrama@oenb.at