The SAFE Policy Center and the Centre for Economic Policy Research (CEPR) organize and cordially invite you to attend a lecture on
Normalization of Monetary Policy
Fabio Panetta, Member of the Executive Board of the European Central Bank
Jan Pieter Krahnen, SAFE Director and Goethe University
to be held on 25 May 2022, 9:00 a.m. - 10:00 a.m.
In presence: room Renate von Metzler (Cas. 1.801), Casino building, Campus Westend
Online: live stream with an option to post questions
After providing exceptional support to the economy during the pandemic, central banks of advanced economies have started withdrawing stimulus on the back of rising inflation. This process is often described as bringing about a “normalization” of monetary policy. But what does “normalization” mean in the euro area context and how far should that process go given the prevailing economic uncertainty? Fabio Panetta, Member of the Executive Board of the European Central Bank (ECB), will discuss what normalizing monetary policy implies for the ECB’s main instruments (interest rates and asset purchases) as the ECB seeks to bring medium-term inflation in line with its target in a lasting manner.
Fabio Panetta has been a member of the Executive Board of the European Central Bank since 1 January 2020. He is responsible for International and European Relations, Market Infrastructure and Payments and Banknotes. Prior to joining the ECB, Mr Panetta was Senior Deputy Governor of the Banca d’Italia and President of the Italian Insurance Supervisory Authority (Ivass). He served as a Member of the Board of Directors and as a Member of the Committee on the Global Financial System of the Bank for International Settlements.
This lecture is a part of the SAFE Policy Lecture Series aiming at fostering debates on policy-relevant issues.