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Monetary policy post-pandemic - balancing between science and art, predictability and reactivity

· François Villeroy de Galhau, Governor of the Banque de France (France)

Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability, growth, investment and productivity, technology, ai and cyber risk

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· François Villeroy de Galhau Wiki · Banque de France WikiMonetary policy post-pandemic - balancing between science and art, predictability and reactivity

ContextSpeech at the Jackson Hole Economic Symposium; the Banque de France keeps prices stable and balances predictability with reaction to shocks.

Why it mattersVilleroy argues for balancing predictability and reactivity.

Problems raised
  1. Growth prospects have receded.
  2. Inflation prospects have risen.
  3. Monetary policy balances science and art.
Solutions proposed
  1. Prioritise risk management on inflation.
  2. Balance predictability and reactivity.
  3. Stay data-dependent.
Read full speech on bis.org ↗

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