Although I was in London only last January for a speech on European monetary policy at the Houses of Parliament, the newlyelected Chairman of HBA, Antonis Ntatzopoulos, managed to persuade me to come again so soon. Thank you also, Antoni, for your kind welcoming address.
I am delighted to see in the audience many of my former students from my time as University Professor here in London, now as members of London’s banking and academic community. My lecture will be structured in two parts. The first part investigates the ECB’s recent monetary decisions and their impact on inflation dynamics, also exploring the benefits and limits of such policies.