Panel Discussion on the Monetary Policy Challenges during the Pandemic in the JVI region

Thursday, December 16, 2021 at 13:00-14:30 Vienna time (CET) 

Hervé Joly, JVI Director 

Erald Themeli, Director of Department of Monetary Policy, Bank of Albania
Petr Král, Executive Director of Monetary Department, Czech National Bank
Volodymyr Lepushynskyi, Director of Monetary Policy and Economic Analysis Department, National Bank of Ukraine 

Tibor Hlédik, Lead Economist, JVI

The webinar will focus on the driving forces behind the monetary policy decisions of central banks in the JVI region during the pandemic. The speakers will exchange on the identification of, and monetary policy reaction to, supply and demand shocks. More specifically, the following issues will be covered:

•  The reasons behind the changing interest rate trajectories during the pandemic.

•  Central bankers’ views on the temporary vs. longer-term effects of certain shocks, in particular: (i) the factors behind the recent jump in energy prices, their effect on inflation expectations; (ii) supply chain disruptions and their country-specific effects on the real economy; and (iii) the stabilizing nature of fiscal policy actions early in the pandemic and the direction of future fiscal policy measures (withdrawal of support vs. further expansion and debt accumulation).

•  The role of the exchange rate in delivering price stability.

The webinar will be held in English.

Participants are encouraged to ask written questions to the presenters using the webinar’s Q&A feature.

To participate in the webinar please sign up here.

A list of JVI webinars on topical issues in the field of financial stability, fiscal policy, and macroeconomics can be found here.

The schedule of JVI courses – including virtual courses – can be found here.

We look forward to continuing our engagement with you!

Hervé Joly, Director (JVI)

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