Time: 18.30 - 20.00    Venue: Shaw Library, LSE (Map)
Speaker: Agustín Carstens (General Manager of the Bank for International Settlements)
Chair: Andres Velasco (Dean, School of Public Policy, LSE)

A decade after the crisis, central banks are seeking to bring monetary policy back to more normal settings but often lack a compass to navigate the new post-crisis terrain. Emerging market economies (EMEs) face the added challenge of volatile exchange rates and capricious capital flows. The increasing role of financial factors in the transmission of exchange rate fluctuations creates difficult trade-offs for EME central banks. What is the nature of these trade-offs and how should policymakers calibrate and sequence the use of multiple policy instruments?

Downloads: the speech transcript and slides are available here.

Agustín Carstens, the General Manager of the Bank for International Settlements (BIS), joins the School of Public Policy's Dean, Professor Andres Velasco, to deliver a lecture on "Exchange rates and monetary policy frameworks in EMEs: Where do we stand?" The lecture is followed by a discussion, moderated by Prof Andres Velasco.
Mr Carstens has headed the BIS, the bank for central banks, since December 2017. During a four-decade career in public policy, he has served as Governor of the Bank of Mexico, Finance Minister of Mexico and Deputy Managing Director of the International Monetary Fund, among other positions.

This event was co-hosted by the School of Public Policy, Centre For Macroeconomics, and Financial Markets Group, Systemic Risk Centre.