Is Monetary Policy Still Regulatory Policy Nowadays?
"Good monetary policy is regulatory policy in action".
At the Reichmuth & Co. Lecture No. 19, Dr. Joachim Nagel, President of the German Bundesbank, and Prof. Dr. Dr. h.c. Thomas Jordan, President of the Swiss National Bank, lectured at the University of Lucerne on the topic of monetary policy.
In a double lecture at the University of Lucerne, Joachim Nagel and Thomas Jordan discussed current inflation. The speakers emphasized the importance for central banks to have a living regulatory policy. Joachim Nagel explained that clear rules and guard rails are essential for a successful monetary policy to ensure prosperity and price stability. Fighting the current inflation was the Bundesbank’s primary goal, he said. Nagel predicted a possible double-digit inflation rate, but also a possible slowdown in 2023 with the aim of heading back toward a 2% inflation rate in the medium term.
