MercoPress. South Atlantic News Agency

Leading world central bankers to meet in Sao Paulo to address “past and present challenges”

The event will address the obstacles central banks are confronting concerning their mandates, monetary policy frameworks, autonomy, and price and financial stability. R

Christine Lagarde from the European Central Bank, Agustín Carstens, General Manager of the Bank for International Settlements (BIS), and Mark Carney, former Governor of the Bank of England (BoE), among other recognized world central bankers will be attending a Brazilian Central Bank seminar on central banks “past and present challenges” to take place in Sao Paulo on May 19th.

Governors of the world's major central banks will present their experiences, stimulating a discussion on the structural difficulties in conducting monetary policy, especially those that have arisen in this post-pandemic period.

“The recent shocks experienced by various economies have been global, resulting in policy reactions in the same direction. In this conference, our objective is to bring together authorities from major central banks and specialists to debate the lessons learned, contrast the different approaches and results, and discuss challenges and opportunities”, says BCB's Governor, Roberto Campos Neto, who will moderate the event, along with Henrique Meirelles, a former Governor of the BCB.

The event will address the obstacles central banks are confronting concerning their mandates, monetary policy frameworks, autonomy, and price and financial stability. Recent issues challenging central banks will also be addressed, such as persistently high inflation, balance sheet management, climate transition, the technology agenda, etc.

The following speakers will participate in the conference: Christine Lagarde, President of the European Central Bank (ECB); Agustín Carstens, General Manager of the Bank for International Settlements (BIS); Leonardo Villar, Governor of the Banco de la República, Colombia; - Rosanna Costa, Governor of the Banco Central de Chile; Pablo Hernandez de Cos, Governor of the Banco de España; Tiff Macklem, Governor of the Bank of Canada; Julio Velarde, Governor of the Banco Central de Reserva del Perú; Raghuram Rajan, former Governor of the Reserve Bank of India (RBI); Federico Sturzenegger, former Governor of the Banco Central de la República Argentina; - Juan José Echavarría, former Governor of the Banco de la República, Colombia; and - Mark Carney, former Governor of the Bank of England (BoE).

According to BCB's deputy-governor Fernanda Guardado, the international seminar will enable a candid discussion and exchange of lessons learned on conducting monetary policy, and its many challenges, particularly since the pandemic. “In addition, the speakers from different regions, who are references in their areas of expertise, will enrich the dialogue, contributing to the prestige and influence of Banco Central do Brasil in the international arena of the public and academic debate on monetary policy and financial stability.”

The seminar will occur on the back of the 1st Annual Conference of Banco Central do Brasil, the first major international event organized by the Bank after a three-year hiatus. The seminar is expected to occur every two years.