The Future of Inflation Targeting

Speakers include our Governor, Mark Carney and John Williams, President of the Federal Reserve Bank of New York.

Conference date: Thursday 9 January 2020

Location: Bank of England, Threadneedle Street

The Bank hosted an invite-only, off-the-record research workshop. The aim of the workshop was to identify the most important areas of research for the design and operation of monetary policy frameworks.   

For any queries please email


Opening remarks by Mark Carney

A framework for all seasons? - speech by Mark Carney 

The constituency for low inflation

The case for low and stable inflation - Klaus Adam (PDF)

Remarks on the constituency for low inflation - Argia M. Sbordone (PDF)

Monetary policy in a digital world

Monetary policy in a digital world - the challenges of digital currencies - Beatrice Weder di Mauro (PDF)

Monetary policy in the broader macroeconomic framework

The fiscal footprint of central bank actions: immediate and far future - Ricardo Reis (PDF)

The political economy of monetary/fiscal cooperation - Simon Wren-Lewis (PDF)

Challenges of a 'low-for-long' interest rate environment

The optimal inflation target and the natural rate of interest - Andrade, Gali, Le Bihan, Matheron (PDF)

Exiting a liquidity trap and the neo fisher effect - Stephanie Schmitt-Grohe and Martin Uribe (PDF)

Policy frameworks and strategies for an open economy

The future of inflation targeting: policy frameworks and strategies for open economics - Pierre-Oliver Gourinchas (PDF)

Policy Frameworks and the Strategies for an Open Economy slides - Philip R Lane

The future of inflation targeting  

The future of inflation targeting - Sayuri Shirai (PDF)

Inflation Targeting: Securing the Anchor - speech by John C Williams 

This page was last updated 20 January 2020
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