However, the pace of any future increase in wages and inflation expectations is uncertain during a prolonged period of low energy prices and no visible rises in annual all-item CPI inflation.
This event, which is organized by the Economic Outlook and Monetary Policy Directorate, has by now become an annual tradition, and brings together academics and central bankers to discuss relevant topics in the policy debate. The focus of this year’s edition is on monetary policy in the so-called “New Normal”. What is the New Normal? Its meaning has changed somewhat over time.