Abstract:
Central banks are experiencing the apocryphal curse that they are living through interesting times. In the last twenty years, they have faced the global financial crisis of 2007-2009, the Covid pandemic of 2020, and a surge in inflation in 2022-2023. This paper examines the chall enges that central banks face in the wake of these crises. Here we fo cus on how central bank governance, monetary policy and financial stability policy at central banks has evolved in recent years. We start by dis cussing the core economics of central banking, and then discuss how this an alysis impacts the tools and design of monetary policy. Then we discuss cha llenges created by the low interest rates in the aftermath of the global fi nancial crisis and the Covid pandemic, and the inflation surge in 2021-22.& nbsp; Finally, we conclude with a summary of the lessons we have learned fo r central bank strategies and tactics.
DTSTAMP:20260428T105607Z DTSTART:20230925T143000Z DTEND:20230925T160000Z SEQUENCE:0 TRANSP:OPAQUE END:VEVENT END:VCALENDAR