This week on Macro Bytes we welcome Dr Grégory Claeys to discuss the European Central Bank (ECB) strategic review. Can monetary policy be used in the fight against climate change and what does this mean for the ECB?

In this episode our host Paul Diggle is joined by special guest, Dr Grégory Claeys. Senior Fellow at the European think tank Bruegel and Associate Professor at the Conservatoire National des Arts et Métiers in Paris. Grégory talks to us from Brussels to share his expertise in macroeconomics, central banking and European governance.

Also joining Paul is the familiar voice of Luke Bartholomew, our in-house Monetary Economist. Together they discuss the impending ECB strategic review and how climate change can be incorporated into monetary policy.

Part 1 gives the background on the ECB strategic review, and explains how the inflation target and the tools of monetary policy may change.

Part 2 focuses in on climate change in relation to monetary policy, the tools a central bank has to fight climate change, and how it fits in with the ECB’s mandate.

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