Monetary Dialogue and Public Hearing with Christine Lagarde, European Central Bank
21-06-2022 - 09:42
On Monday 20 June 2022, from 15:00 to 17:00, ECON Members held their second Monetary Dialogue of the year with the ECB President. The Monetary Dialogue was followed by a public hearing with Ms Lagarde in her capacity as Chair of the European Systemic Risk Board. The public hearing took place between 17:00 and 18:00.
ECON Members held their second Monetary Dialogue of the year with the ECB President. This Monetary Dialogue took place in a particularly challenging context: it was the first Monetary Dialogue since the invasion of Ukraine and according to Eurostat, annual headline inflation in the euro area reached 8.1% in May. The two specific topics of discussion as chosen by ECON were: 1) War in Ukraine: implications for the ECB ; and 2) 10 years after "whatever it takes": fragmentation risk in the current context.
The ESRB is a separate body from the ECB with a broad financial stability mandate. It has focussed on, in particular, real estate markets (both residential and commercial) and assessed the risks of widespread insolvencies arising from the withdrawal of support provided during the pandemic. It provides a forum for central banks, supervisors and macroprudential authorities to assess common concerns and can issue recommendations and warnings where it deems necessary.
The ESRB is a separate body from the ECB with a broad financial stability mandate. It has focussed on, in particular, real estate markets (both residential and commercial) and assessed the risks of widespread insolvencies arising from the withdrawal of support provided during the pandemic. It provides a forum for central banks, supervisors and macroprudential authorities to assess common concerns and can issue recommendations and warnings where it deems necessary.