The Future of Forward Guidance – international research conference 11-12 May
News On 11-12 May the Riksbank is organising the conference “The Future of Forward Guidance” for invited participants and speakers. The conference is about how central banks can communicate with regard to their future monetary policy.
The purpose of the conference is to discuss, together with prominent researchers from central banks and universities, questions concerning the effects of different forms of forward guidance, whether central banks' interest-rate forecasts have affected market rates, and what role is played by the exchange rate in central banks' forward guidance.
The conference is arranged in the light of the recommendation of investigators Marvin Goodfriend and Mervyn King in their report "Review of the Riksbank's monetary policy 2010–2015" that the Riksbank should evaluate its experiences of publishing forecasts for the repo rate.
The Riksbank has been publishing forecasts for the repo rate for more than ten years. Each Monetary Policy Report contains the so-called repo-rate path, which shows the Riksbank's forecast for the repo rate three years ahead. Over the past year, the Riksbank has worked on evaluating its experiences of publishing repo-rate forecasts and this conference is organised as part of this work.
The conference will conclude with a panel discussion in which Deputy Governor Martin Flodén will participate, along with Narayana Kocherlakota (Lionel W. McKenzie Professor of Economics, Rochester University) and David Miles (Professor of Financial Economics, Imperial College Business School, London).
Please see the enclosed programme for more information.
Question about the conference can be addressed to the Riksbank's Press Office on +46 8 787 02 00.