International Conference: The Challenges for Central Banking
On 5 June 2018 an international conference entitled The Challenges for Central Banking was held in Bratislava as part of a series of events to mark the 25th anniversary of Národná banka Slovenska (NBS).
The conference addressed some of the key issues facing central banks today.
The discussions were divided into three panels, each focused on a particular topic as follows:
- Managing the twin goals of central banks: financial stability and price stability;
- Measuring, navigating and responding to financial cycles;
- Shaping the future of financial services.
In his opening remarks to the conference, NBS Governor Jozef Makúch stressed that the issues of financial stability, technological innovation in the financial sector, and non-standard monetary policies had to be viewed from both the position of the global economy and the position of small open economies such as Slovakia’s. He also noted that the Slovak banking sector was in some respects better prepared for the introduction of new technology, since it had not been burdened with legacy procedures from the 20th century.
The conference participants were also addressed by Slovakia’s Deputy Prime and Finance Minister, Peter Kažimír.
The heads of the Czech, Austrian and Swiss central banks each chaired a discussion panel. The panellists included representatives of Národná banka Slovenska, international financial institutions, commercial banks, and academia.
In his closing remarks to the conference, NBS Deputy Governor Ľudovít Ódor said: “The principal challenge now facing central banks is how to align responsibilities for price and financial stability. At the same time, we must keep pace with technological advances in the financial sector in order to ensure more streamlined and efficient regulation.”
Martina Vráblik Solčányiová
NBS Spokesperson
Jozef Makúch, Governor, NBS – opening remarks
Peter Kažimír, Deputy Prime Minister and Minister of Finance of the Slovak Republic – opening remarks
Jiří Rusnok, Governor ČNB, chair of Session 1
Session 1
Ľudovít Ódor, Deputy Governor, NBS
Ewald Nowotny, Governor, OeNB – chair of Session 2
Frank Smets ECB, Ľuboš Pástor NBS, Anil Kashyap BoE
Thomas Jordan, Chairman of the Governing Board, SNB – chair of Session 3
Ľudovít Ódor, Deputy Governor, NBS – closing remarks
National Bank of Slovakia
Communications Section
Imricha Karvasa 1, 813 25 Bratislava, Slovak Republic
Tel.: +421-2-5787 2142, +421-2-5865 2142, +421-2-5787 2169, +421-2-5865 2169
Internet: http://www.nbs.sk
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