The title of my speech is a dead giveaway regarding what is in store for you, but, as my former UK counterpart Mervyn King once said of central bankers, “boring is best”. Monetary and economic policy challenges are on the agenda. In this regard, there is no shortage of topics.
I wish to begin by focusing on competition and digitalisation as challenges facing economic policy before turning to monetary policy. But first, let me take you on a short trip back in time, to the sunset of the 19th century in the United States.