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Luc Aucremanne and Alain de Crombrugghe, co-chairmen of the Monetary and Financial Commission of the Belgian Financial Forum and Etienne de Callataÿ, Chairman of La Société Royale d’Economie Politique de Belgique have the honour of inviting you to the presentation of

Short and long term effects of monetary policy accommodation – Are we facing new bubbles?

Intervenant(s) :
Bill White, Chairman of the Economic and Development Review Committee at the OECD, previously Economic Adviser and Head of the Monetary and Economic Department at the Bank for International Settlements and Deputy Governor of the Bank of Canada.
Ms Pelin Ilbas, Research Economist NBB

About the theme:
Bill White will evaluate the desirability of ultra easy monetary policy by weighing up the balance of the desirable short run effects and the undesirable longer run effects – the unintended consequences. The conclusion is that there are limits to what central banks can do. It is also the case that ultra easy monetary policies can eventually threaten the health of financial institutions and the functioning of financial markets, threaten the “independence” of central banks, and can encourage imprudent behaviour on the part of governments. None of these unintended consequences is desirable. Bill White’s bottom line is that monetary policy is not “a free lunch”. The time that it buys must be used by governments to set the policy levers they control to support strong, sustainable and balanced growth at the global level.

Date et lieu :
Lundi 16 juin de 12h00- 14h00 - Auditorium of the National Bank of Belgium, Warmoesberg 61
rue Montagne aux Herbes Potagères 61, 1000 Brussels

Language: presentation in English. There will be no simultaneous translation
Free of charge
The lecture will be followed at 1:15 pm by a sandwich lunch, offered by the National Bank of Belgium

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