What impact do global events have on our economy? And how has the ECB’s monetary policy shifted?

As 2024 comes to an end, our host Paul Gordon discusses these questions and more with Chief Economist Philip R. Lane.

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

Published on 20 December 2024 and recorded on 13 December 2024.

In this episode:

01:43: Geopolitics and monetary policy

How has geopolitics influenced the ECB’s work in 2024?

05:59: Reaching our 2% medium-term inflation target

From holding rates to cutting rates: have we tamed inflation yet?

09:40: Unemployment at record lows

What is the overall state of the economy? And what do the ECB’s latest projections tell us?

13:35 Europe’s competitiveness problem and the Draghi and Letta reports

What does Europe need to do to become more competitive? What do these reports recommend?

15:40: Philip Lane’s hot tip

ECB’s Chief Economist shares his hot tip with our listeners.

Further reading:

Monetary Policy Decisions – 12 December 2024

https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.mp241212~2acab6e51e.en.html

Much More Than a Market: Speed, Security, Solidarity – Empowering the Single Market to deliver a sustainable future and prosperity for all EU Citizens by Enrico Letta

https://www.consilium.europa.eu/media/ny3j24sm/much-more-than-a-market-report-by-enrico-letta.pdf

The future of European competitiveness: Report by Mario Draghi

https://commission.europa.eu/topics/strengthening-european-competitiveness/eu-competitiveness-looking-ahead_en

The Central Bank as Crisis Manager by Patrick Honohan

https://www.piie.com/bookstore/2024/central-bank-crisis-manager

Monetary policy under uncertainty

https://www.ecb.europa.eu/press/key/date/2024/html/ecb.sp241125~df4c5a69c7.en.html

Navigating a fragmenting global trading system: insights for central banks

https://www.ecb.europa.eu/press/key/date/2024/html/ecb.sp241121_2~a4cbddd0f2.en.pdf

European Central Bank

www.ecb.europa.eu