Isabel Schnabel, German economist and member of the Executive Board of the European Central Bank, gives a lecture on euro area inflation in the Eesti Pank Independence Hall on 30 August 2024 at 10.00–12.00 (GMT+3). The lecture is followed by a panel discussion with the governors from the central banks of Latvia, Lithuania, Finland and Estonia, focusing on the impact of the recent crises and the lessons learned for monetary policy. The lecture and panel discussion are in English.

Isabel Schnabel is a German economist and a member of the Executive Board of the European Central Bank. Her main responsibilities entail the financial markets, economic research and the implementation of monetary policy. In her lecture, she speaks about the inflation outlook and the risks surrounding it, which may prevent inflation from returning to the central bank´s 2% target by the end of 2025.

The panel discussion centres on the monetary policy lessons learned from the financial crisis and other recent crises. How big a challenge for policy makers is the divergence of inflation across the different countries of the monetary union? Should the central bank react to the perceived inflation caused by a high price level, as it takes time for people to adjust to it? How should we deal with global inflation shocks? What impact has the high inflation of the last few years had on the competitiveness and exporters of the euro area? What are the lessons to be learned for central banks, based on the member states’ fiscal policies? The discussion lead will be Governor of Eesti Pank Madis Müller. The other participants are Isabel Schnabel (member of the ECB Executive Board), Governor Mārtiņš Kazāks (Latvijas Banka), Governor Olli Rehn (Suomen Pankki) and Chairman of the Board Gediminas Šimkus (Lietuvos Bankas).

• See the event schedule here

Attendance

The event will be livestreamed here on the Eesti Pank website, on the Eesti Pank Facebook page, and on the Eesti Pank YouTube channel.

Please note: attendance in person is by invitation.

Information for journalists

Journalists are invited to report on the event. Please inform us that you wish to attend by evening of 29 August at the latest by emailing [email protected], giving the name and contact details of the journalist and the publication. Entrance is only permitted to journalists who have registered in advance. Please bring proof of ID to the event.