(2016), “Connecting the dots: market reactions to forecasts of policy rates and  forward guidance provided by the Fed”, DNB Working Papers, No 523; and Brubakk, L., S. ter Ellen and H. Xu (2017), “Forward guidance through interest rate projections: does it work?”, Norges Bank Working Papers, No 62017.
One challenge that both our Governor and I have outlined in recent months is related to climate change and the challenge of transitioning the economy and society to a low-carbon environment.2 3 The Central Bank has been taking steps in this space in recent years and indeed our keynote speaker today discussed climate change and its effects on the Irish Financial System during his time as Governor.4 This year, the Central Bank has established a dedicated climate change unit to strategically drive the work that the Central Bank needs to do to address the challenge of climate change within its mandate.