Vittorio Corbo: Monetary policy and international financial markets Presentation by Mr Vittorio Corbo, Governor of the Central Bank of Chile, in the Conference “Economic Projections – Chile: Economic Growth with Social Inclusion” organized by the Americas Society/Council of the Americas, Amcham Chile, and El Mercurio newspaper, Santiago, 28 August 2007. *  *  *  First and foremost, I want to thank the Council of the Americas, Amcham Chile, and El Mercurio newspaper for inviting me to participate in this event. I will begin my presentation by discussing the recent performance of the Chilean economy, to then address the developments of world financial markets over the last weeks and close with a review of the way the monetary policy framework operates in Chile and what can be expected from it at a time like this. Performance of the Chilean economy After unexpected slowdown of the third quarter of last year, the Chilean economy resumed strong expansion. Annual (year-on-year) GDP growth was 6.1% in the second quarter, outperforming the first quarter’s 5.8% and above projections in the latest Monetary Policy Report. This expansion has relied on good external conditions, a stronger fiscal impulse – associated to the more permanent portion of the copper price increase – and favorable financial conditions that partly reflect an stimulating monetary policy. Regarding domestic demand, it is worth highlighting investment’s renewed dynamism, with annual growth rate of 13.9% in the second quarter of this year, in contrast with the meager 2.6% of the second half of 2006.
Christine Lagarde: Hearing of the Committee on Economic and Monetary Affairs of the European Parliament Introductory statement by Ms Christine Lagarde, President of the European Central Bank, at the ECON committee of the European Parliament, Brussels, 2 December 2019. * * * Madam Chair, Honourable members of the Economic and Monetary Affairs Committee, Ladies and gentlemen, I am very happy to be back before this Committee for my first regular hearing as ECB President. I want to express my personal and sincere gratitude to this house for the support I received during the appointment process. And I look forward to a constructive and positive relationship between our two institutions going forward. The connection between the ECB and the European Parliament is especially valuable today as a means to reinforce trust in European institutions. In the euro area, support for the single currency has grown steadily in recent years, rising from a low of 62% in 2013 during the crisis to an all-time high of 76% today. Trust in the ECB has grown in that time as well – but its recovery after the crisis has been less dynamic.1 My predecessors at the ECB were alert to this and already acted to address the challenge. The ECB’s accountability practices have evolved2, as has its communication strategy.