85 episodes

The European Central Bank Podcast – bringing you insights into the world of economics and central banking.

Our host Stefania Secola talks to experts about the topics and trends that matter to the eurozone economy today.

The views expressed are those of the speakers and not necessarily those of the European Central Bank.

The ECB Podcast European Central Bank

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    • 4.6 • 10 Ratings

The European Central Bank Podcast – bringing you insights into the world of economics and central banking.

Our host Stefania Secola talks to experts about the topics and trends that matter to the eurozone economy today.

The views expressed are those of the speakers and not necessarily those of the European Central Bank.

    President Lagarde presents the latest monetary policy decisions – 6 June 2024

    President Lagarde presents the latest monetary policy decisions – 6 June 2024

    Today our Governing Council decided on monetary policy, determining what’s needed to return inflation to our 2% goal.

    Listen to President Christine Lagarde present today’s decisions. The statement also covers:

    - how the economy is performing
    - how we expect prices to develop
    - the risks to the economic outlook
    - the dynamics behind financial and monetary conditions

    Published and recorded during our press conference on 6 June 2024


    Our monetary policy statement at a glance, 6 June 2024 https://www.ecb.europa.eu/press/press_conference/visual-mps/2024/html/mopo_statement_explained_june.en.html

    Christine Lagarde, Luis de Guindos: Monetary policy statement, 6 June 2024 https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2024/html/ecb.is240606~d32cd6cc8a.en.html

    Monetary policy decisions, 6 June 2024 https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp240606~2148ecdb3c.en.html

    Combined monetary policy decisions and statement, 6 June 2024 https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/shared/pdf/ecb.ds240606~f4d2c4833d.en.pdf?3d009dc9ec7917c832fe9a5a41e12fcd

    European Central Bank https://www.ecb.europa.eu/home/html/index.en.html

    You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more pod.link/ecbpodcast

    • 15 min
    Financial stability in a ChatGPT world

    Financial stability in a ChatGPT world

    What does the rapid advance of AI mean for our financial system? And how is financial stability affected by geopolitical risk?

    Our host Stefania Secola puts these questions to expert John Fell in The ECB Podcast’s regular look at financial stability in the euro area.

    The views expressed are those of the speakers and not necessarily those of the European Central Bank.

    Published on 17 May 2024 and recorded on 10 May 2024.

    In this episode:

    01:01 – How stable is our financial system right now?
    Our latest financial stability assessment is more positive, but just how resilient is our financial system to shocks?

    04:56 – What concerns does geopolitical risk raise?
    How can geopolitical risk affect markets, banks and non-banks like investment funds, and what can financial institutions do to manage it?

    09:55 – How can AI help the financial system?
    Artificial intelligence offers promising ways to improve efficiency, customer service and risk management.

    13:32 – Can AI be a source of systemic risk?
    Widespread use of AI tools and reliance on a small number of suppliers could lead to financial stability risks.

    19:13 – Our guest’s hot tip
    Financial stability expert John Fell shares his hot tip with our listeners.

    Further reading:

    Financial Stability Review, May 2024
    https://www.ecb.europa.eu/press/financial-stability-publications/fsr/html/index.en.html

    Turbulent times: geopolitical risk and its impact on euro area financial stability (special feature A)
    https://www.ecb.europa.eu/press/financial-stability-publications/fsr/html/ecb.fsr202405~7f212449c8.en.html#toc33

    The rise of artificial intelligence: benefits and risks for financial stability (special feature B)
    https://www.ecb.europa.eu/press/financial-stability-publications/fsr/html/ecb.fsr202405~7f212449c8.en.html#toc34

    The ECB Podcast: When the yin meets the yang: resilience in gloomy times, December 2023
    https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod231202_episode74.en.html

    European Central Bank www.ecb.europa.eu

    • 20 min
    The power of inflation expectations

    The power of inflation expectations

    What are inflation expectations? How do our personal experiences shape them? And why do they matter to central banks?

    In this episode of The ECB Podcast, our host Stefania Secola and researchers Geoff Kenny and Dimitris Georgarakos discuss how people form expectations about inflation and how we measure them.

    The views expressed are those of the speakers and not necessarily those of the European Central Bank.

    Published on 26 April 2024 and recorded on 19 April 2024.

    In this episode:

    01:35 – Inflation expectations
    What are inflation expectations, and why do they matter for central banks? How do people form such expectations?

    9:25 – The impact on prices
    Can inflation expectations shape the prices we end up paying? How might personal perceptions influence wages?

    11:30 – Measuring inflation expectations
    Why is it important to measure inflation expectations, and how do we do it at the ECB? What were the findings of our latest survey?

    16:38 – The role of the ECB
    What can the ECB do to inform people’s inflation expectations? And what role can communication play in this?

    21:15 – Our guests’ hot tips
    ECB researchers Geoff Kenny and Dimitris Georgarakos share their hot tips and some final thoughts with our listeners.

    ECB Consumer Expectations Survey
    https://www.ecb.europa.eu/stats/ecb_surveys/consumer_exp_survey/html/index.en.html

    Working Paper: Tell me something I don’t already know: learning in low and high-inflation settings, March 2024
    https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2914~d6a8832bf5.en.pdf?e655c8b68e7c2fb096387a4da34c42e6

    Research Bulletin: Recent changes in consumers’ medium-term inflation expectations – a detailed look, February 2023
    https://www.ecb.europa.eu/press/research-publications/resbull/2023/html/ecb.rb230224~558beec65c.en.html

    Economic Bulletin issue 3/2024: Trust in the ECB – insights from the Consumer Expectations Survey, April 2024
    https://www.ecb.europa.eu/press/economic-bulletin/html/eb202403.en.html#toc24

    European Central Bank
    www.ecb.europa.eu

    • 25 min
    President Lagarde presents the latest monetary policy decisions – 11 April 2024

    President Lagarde presents the latest monetary policy decisions – 11 April 2024

    Today our Governing Council decided on monetary policy, determining what’s needed to return inflation to our 2% goal in a timely manner.

    Listen to President Christine Lagarde present today’s decisions. The statement also covers:
    - how the economy is performing
    - how we expect prices to develop
    - the risks to the economic outlook
    - the dynamics behind financial and monetary conditions

    Published and recorded during our press conference on 11 April 2024

    Additional material

    Our monetary policy statement at a glance, 11 April 2024 https://www.ecb.europa.eu/press/press_conference/visual-mps/2024/html/mopo_statement_explained_april.en.html

    Christine Lagarde, Luis de Guindos: Monetary policy statement, 11 April 2024 https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2024/html/ecb.is240411~9974984b58.en.html

    Monetary policy decisions, 11 April 2024 https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp240411~1345644915.en.html

    Combined monetary policy decisions and statement, 11 April 2024 https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/shared/pdf/ecb.ds240411~58dd9ec73d.en.pdf?566c397f0364d717913bf7770e67bf17

    European Central Bank
    https://www.ecb.europa.eu/home/html/index.en.html


    You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more pod.link/ecbpodcast

    • 13 min
    Quo vadis, inflation?

    Quo vadis, inflation?

    We have made good progress in our fight against inflation since we started to tighten our monetary policy in 2022. Where do we stand right now? And what are we keeping a close eye on in the economy?

    Host Stefania Secola discusses these topics with our Chief Economist Philip R. Lane. They also talk about the ECB’s recent changes to its operational framework for implementing monetary policy.

    The views expressed are those of the speakers and not necessarily those of the European Central Bank.

    Published on 25 March 2024 and recorded on 21 March 2024.

    In this episode:
    01:23 – Inflation right now
    How has inflation evolved since its peak in late 2022? What is the outlook for the year ahead and what will shape our future decisions?

    03:30 – Wages and inflation
    How are rising wages affecting inflation, and is the situation the same across all euro area countries?

    09:54 – The state of the labour market
    Unemployment is historically low, but economic growth is projected to be lower than in previous years. What might the coming months hold for the labour market?

    13:54 – The ECB’s operational framework
    Why have we reviewed our operational framework for implementing monetary policy? How does it help our work to keep prices stable?

    19:02 – Our guest’s hot tip
    Our guest, Philip R. Lane, encourages our listeners to read a paper that looks at the macroeconometric models used at the ECB for forecasting and policy analysis.

    Further Reading:
    The ECB Podcast: Are wages and greedflation really pushing up prices? June 2023
    https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod230623_episode62.en.html

    Occasional Paper 344: ECB macroeconometric models for forecasting and policy analysis
    https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op344~53b9e2aa4d.en.pdf?14821c7f99280514dbdaa26114c4f565

    Press release: ECB announces changes to the operational framework for implementing monetary policy
    https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.pr240313_1~a3a50a9add.en.html

    Economic Bulletin Issue 2/2024, Article 1: The impact of recent shocks and ongoing structural changes on euro area productivity growth
    https://www.ecb.europa.eu/pub/economic-bulletin/articles/2024/html/ecb.ebart202402_01~d63ecff49c.en.html

    Press release: Monetary policy decisions (7 March 2024)
    https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp240307~a5fa52b82b.en.html

    European Central Bank
    www.ecb.europa.eu

    • 20 min
    President Lagarde presents the latest monetary policy decisions – 7 March 2024

    President Lagarde presents the latest monetary policy decisions – 7 March 2024

    Today our Governing Council decided on monetary policy, determining what’s needed to return inflation to our 2% target in a timely manner.
    Listen to President Christine Lagarde present today’s decisions. The statement also covers:

    - how the economy is performing
    - how we expect prices to develop
    - the risks to the economic outlook
    - the dynamics behind financial and monetary conditions

    Recorded and published on 7 March 2024

    Our monetary policy statement at a glance, 7 March 2024 https://www.ecb.europa.eu/press/pressconf/visual-mps/2024/html/mopo_statement_explained_march.en.html
    Christine Lagarde, Luis de Guindos: Monetary policy statement, 7 March 2024 https://www.ecb.europa.eu/press/pressconf/2024/html/ecb.is240307~314650bd5c.en.html
    Monetary policy decisions, 7 March 2024 https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp240307~a5fa52b82b.en.html
    Combined monetary policy decisions and statement, 7 March 2024 https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds240307~8e06c79bf2.en.pdf?e86e578f1a99fdaa095a37dc4f1f6355

    European Central Bank
    https://www.ecb.europa.eu/home/html/index.en.html
    You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more pod.link/ecbpodcast

    • 12 min

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