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Monetary policy and banking fragility

LSE public lecture

Date: Wednesday 27 July 2011 
Time: 6.30-8pm
Venue:  Old Theatre, Old Building
Speaker: Professor David Miles
Chair: Professor Charles Goodhart

Important Update, Tuesday 26 July:  It appears that there was a problem with the ticket request form early last week and some requests were not received. We have been able to allocate spaces to those people who have since been in touch, but as of today no more tickets are available.  LSE apologises for any inconvenience caused.

The banking sector across many developed economies proved fragile – insufficiently robust to prevent worries about the value of bank assets generating a banking crisis. This caused a downturn which in the UK has been severe and prolonged. But this has happened while inflation has stayed relatively high. This creates huge challenges in setting monetary policy. David Miles will analyse those difficulties and consider how banks can be best made more robust.

Professor David Miles joined the Monetary Policy Committee at the Bank of England in June 2009. He is also a Visiting Professor at Imperial College. Miles was formerly a professor of financial economics and head of the Finance Department at Imperial. As an economist he has focused on the interaction between financial markets and the wider economy. He was Chief UK Economist at Morgan Stanley from October 2004 to May 2009.


He has been a specialist economic advisor to the Treasury Select Committee. In Budget 2003, the Chancellor commissioned Professor Miles to lead a review of the UK mortgage market. The result, published at Budget 2004, was the report: "The UK mortgage market: taking a longer-term view". He is a council member of the Royal Economic Society, a research fellow of the Centre for Economic Policy Research and at the CESIFO research institute in Munich. He is a former editor of Fiscal Studies.

Suggested hashtag for this event for Twitter users: #lsefragility


A transcript of Professor David Miles' speech is available to download. Download 'Monetary policy and banking fragility' (pdf).


A podcast of this event is available to download from Monetary policy and banking fragility.

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This event has been certified for CPD purposes by the CPD Certification Service. Self-Assessment Record forms will be made available for delegates wishing to record further learning and knowledge enhancement for Continuing Personal and Professional Development (CPD) purposes. For delegates who wish to obtain a CPD Certificate of Attendance, it is the responsibility of delegates to register their details with a LSE steward at the end of the event and as of 1 September 2014 a certificate will be sent within 28 days of the date of the event attended by the CPD Certification Service.  If a delegate fails to register their details at the event, it will not prove possible to issue a certificate. (For queries relating to CPD Certificates of attendance after a request please phone 0208 840 4383 or email info@cpduk.co.uk).