SUERF

Over past years, several central banks around the world have lowered policy rates below zero. Also, bond yields have entered negative territory as a result of central banks’ asset purchase programmes. How effective has negative interest rate policy been in stimulating aggregate demand and in bringing inflation up back to target? What were the effects on banks’ profitability and on the monetary transmission mechanism? What other side effects emerged?

Program

Time

Thursday, 6 May 2021

15:00

Negative Interest Rates: Effectiveness and Side Effects – Taking Stock

Welcome by Ernest Gnan, OeNB I SUERF

Moderation by Jakob de Haan, SUERF President

Negative Interest Rates: Taking Stock of the Experience So Far

Gaston Gelos, IMF Presentation (pdf)

Banks and Negative Interest Rates

Florian Heider, ECB Presentation (pdf)

Negative Interest Rates in Denmark

Jesper Berg, Finanstilsynet (Danish Financial Stability Authority) Presentation (pdf)

16:15

End

Tags:

Central Banking and Monetary Policy Corporate finance Financial Markets and Institutions Financial Services and Business models Financial stability, regulation and supervision Household finance, savings and consumption Macroeconomics, Growth and real economy

Negative Interest Rates: Effectiveness and Side Effects – Taking Stock

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In cooperation with

Program

Negative Interest Rates: Effectiveness and Side Effects – Taking Stock

Venue

Format

Date

In cooperation with

Program

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