ECB Forum on Central Banking

The theme of the 2020 Forum was “Central banks in a shifting world”, reflecting the need of central banks to adapt on an ongoing basis to changing national and international circumstances.

During the event, we examined topics central to the ongoing review of the ECB’s monetary policy strategy, including the consequences of recent trends in (de)globalisation, the impact of COVID-19 on European and global economies, macro-financial implications of climate change and the challenges posed by low natural interest rates. Other aspects of the strategy review, such as the operationalisation of the ECB’s price stability objective, monetary policy instruments and communication were also addressed during the Forum.