The Changing Framework of Monetary Policy Operations

The global financial crisis threw monetary policy operations into the spotlight. The line between monetary policy and financial stability blurred as central banks were forced to intervene to maintain stability and confidence in markets. Now they have to be prepared, once market conditions improve, to take corrective measures in good time and ensure sufficient and accessible levels of liquidity. Yet they must be wary, not least with balancing domestic and external conditions. For monetary operations specialists this presents a series of technical challenges as they seek to prepare markets and economies for the exit from the crisis, placing a premium on skilful implementation of operations and effective communication. This seminar has been designed to equip central banks’ monetary operations team with the tools to meet these challenges. This year’s four-day programme of interactive roundtable seminars and workshops illustrates the key practical lessons at a time of heightened attention on their performance, demonstrating where they can add value. The panel of expert speakers combines practical central banking experience and expertise in the technical aspects of operations, as well as views from private sector experts