Home > Financial > Irish Central Bank Governor discusses post COVID-19 World

Irish Central Bank Governor discusses post COVID-19 World

Written by Robert McHugh, on 14th Sep 2020. Posted in Financial

article headline

The Governor of the Irish Central Bank, Gabriel Makhlouf, today pointed to the legacy of structural change left by Covid-19, noting two important and changing areas - globalisation and digitalisation which "will have implications for the way we live, work, consume and communicate and, therefore, the effective transmission of monetary policy across the euro area." 
 
Speaking today at a webinar hosted by Institute of International and European Affairs, Makhlouf highlighted other factors that impede the transmission of monetary policy such as "risk aversion across national lines, an incomplete banking union and the absence of fully integrated financial, capital and credit markets all of which have been thrown into sharp relief as a result of the pandemic."
  
Governor Makhlouf said that monetary policy makers need to understand the nature of any structural shifts underway in the economy (as well as to the prevailing macroeconomic and institutional framework) so that they continue to deliver on their mandate. Makhlouf said that these issues will form part of the ECB’s strategy review.
 
Source: www.businessworld.ie 

More articles from Financial

image Description

48% of Ireland's financial services believe Covid response was better than competitors

Read more
image Description

KBC Bank Ireland fined €18.3m by the Central Bank

Read more
image Description

PayPal launches its first business debit card in Ireland with unlimited cashback

Read more
image Description

Tanaiste urges businesses to get ready for inevitable change

Read more
image Description

Further supports required for the long winter warns Goodbody

Read more