The ECB Forum commences today in Sintra, centered around addressing change at a time when economic uncertainty is heightened by Donald Trump’s policies. The opening address will be delivered by Christine Lagarde.
The President of the European Central Bank (ECB) is set to speak today at the welcome dinner of this event, which runs until Wednesday. It will feature participants from central banks, academics, and experts, including the Chairman of the US Federal Reserve, Jerome Powell.
This year’s theme for the ECB Forum is “Adapting to Change: Macroeconomic Adjustments and Policy Response.” Discussions have been dominated by tariffs imposed by US President Donald Trump and their impact on the global economy and trade, representing a significant challenge for monetary policy.
Debate sessions begin on Tuesday with ECB Vice President Luis de Guindos leading a discussion on the macroeconomic implications of changes in euro area labor markets.
A subsequent session will focus on “Monetary Transmission through Households, Consumption, and Savings,” based on a paper on the discretionary spending cycle by Paolo Surico, a professor at London Business School. Isabel Schnabel, a member of the ECB’s Executive Board, will coordinate a panel on “Heterogeneity among Countries in the Euro Area and Implications for Monetary Policy.”
The day concludes with a panel of governors featuring Andrew Bailey, Governor of the Bank of England; Christine Lagarde, President of the ECB; Jerome Powell, Chair of the Federal Reserve Board of Governors; Chang Yong Rhee, Governor of the Bank of Korea; and Kazuo Ueda, Governor of the Bank of Japan.
The third and final day opens with a discussion on “Non-Bank Financial Intermediaries, Liquidity, and Their Prudential Treatment,” followed by a session on new industrial developments and the evolving architecture of international trade.
The program will also cover challenges in central bank communication and a discussion on leveraging Europe’s growth potential, featuring Philippe Aghion, professor at Collège de France and London School of Economics, and Lars Feld, professor at the University of Freiburg and Director of the Walter Eucken Institute.
The event concludes with remarks from Lagarde, who will deliver the final considerations after awarding the Young Economist Prize.
