Monetary Policy in an Era of Transformation: A Review of ECB Forum on Central Banking

Abstract

In early July 2024, the European Central Bank held a forum on central banking titled ‘Monetary policy in an era of transformation’. Our review summarises the academic part of the forum, focusing on the topics of inflation, economic growth, and climate and geopolitical risks – issues which are of practical relevance for central bank policy, as well as on the topic of long-term equilibrium interest rates and their role in monetary policy decision-making.