Governor Peter Kažimír at the Bank of Japan Conference in Tokyo on the topic “New Challenges for Monetary Policy”

Governor Peter Kažimír sat with Athanasios Orphanides, professor of the Practice of Global Economics and Management at the Massachussets Institute of Technology to debate “Challenges for monetary policy and communication.“

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Following is a short summary of the governor’s intervention:

• In today’s increasingly polarized world, the role of central banks is more vital – and more scrutinized – than ever.
• We must focus on how central banks can effectively design strategies focusing simultaneously on:
  • Maintaining Credibility – Building and preserving trust is paramount here. It’s about clear communication and consistent action aligning with our objectives.
  • Improving Outcomes – Ultimately, the central bank’s strategies must deliver on the promise of economic stability and prosperity for all.
  • Strengthening Transparency – Central banks must work harder to explain what we do and why. Simple rules, openness are always helpful, not because they solve everything, but because they help us stay anchored when the waters get rough.

„These rules provide the structure we need while also offering the flexibility we can’t do without. It’s a framework that isn’t perfect, but it’s honest, transparent, and built to adapt—and it has served us well.“

Peter Kažimír, guvernor of NBS

This adaptable, rules-based approach is key to navigating the new challenges ahead and ensuring that monetary policy continues to serve the public good effectively.

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National Bank of Slovakia
Communications Section
Imricha Karvaša 1, 813 25 Bratislava
Contact: press@nbs.sk

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