The title of this year's conference “More than the Taylor rule: Monetary Policy, Prudential Issues and Central Banking” provides the grounds for discussing several interesting issues related to the role of central banks, building in particular on the experience acquired before and during the...

Sooner or later, the ECB must accept that monetary financing in support of deficit spending is a necessity not just for mitigating the coronavirus crisis, but also for averting a downward deflationary cycle that could pull the eurozone apart.

After almost four decades of price stability, inflation has recently approached historical highs. Initially driven by global energy and food price increases, the magnitude of the surge in inflation caught central banks and markets by surprise. Price pressures are now increasingly broadening to...