Central Bank of Chile opens centenary 28th annual conference on monetary policy and financial markets

The Central Bank of Chile opened its 28th annual conference, “Monetary policy, financial markets and future challenges”, as part of its 100th anniversary celebrations, bringing together academics and representatives from universities, central banks and international organisations in Santiago on 20–21 November. The first day focused on challenges for monetary policy and financial markets, including the role of the US dollar as a global safe asset and the implications of international financial shocks for monetary and financial policy. In her opening remarks, President Rosanna Costa reviewed the institution’s history and framed the conference around future challenges, while highlighting the performance of Chile’s monetary policy framework in reducing inflation from above 14% annually to levels close to the 3% target. The programme included a session chaired by Board Member Claudio Soto featuring Rohan Kekre’s paper on US monetary policy and the global financial cycle, discussed by San Francisco Fed Research Director Sylvain Leduc, with a focus on spillovers to global risk premia and international asset prices. A panel chaired by Vice President Stephany Griffith-Jones brought together senior regional central bankers and market research expertise to discuss open-economy challenges, including US macroeconomic cycles, foreign exchange interventions and heightened international uncertainty. The conference continues through 21 November with additional sessions and livestreaming via the central bank’s website, with keynote addresses scheduled from New York Fed President John Williams and Harvard Professor and former International Monetary Fund First Deputy Managing Director Gita Gopinath.