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27Nov

Fiscal influences over macro-financial stability

Hosted by the Centre For Macroeconomics
In-person and online public event (LSE campus, venue tbc to ticketholders)
Thursday 27 Nov 2025 6.30pm - 7.45pm

In many advanced economies, large public deficits co-exist today together with the legacy public debt from the pandemic. This lecture will discuss how this situation affects macro-financial stability, how it puts strains on the financial sector, and how it constrains macroeconomic policy. There are both local and global components to this challenge, which put the international financial system at the centre of any of the possible scenarios.

Meet our speaker and chair

Pablo Hernández de Cos is the recently appointed General Manager of the Bank for International Settlements. Mr Hernández de Cos served as Governor of the Bank of Spain from 2018 to June 2024. During his tenure, he was a member of the Governing Council of the ECB and Chair of the Basel Committee on Banking Supervision from 2019 to 2024. He also held key leadership roles, including membership in the Financial Stability Board and the BIS Group of Governors and Heads of Supervision.

Ricardo Reis (@R2Rsquared) is the A W Phillips Professor of Economics at LSE. Recent honours include the 2022 Carl Menger prize, the 2021 Yrjo Jahnsson medal, election for the Econometric Society in 2019, the 2017 BdF/TSE junior prize, and the 2016 Bernacer prize. He is an academic consultant at the Bank of England, the Riksbank, and the Federal Reserve Bank of Richmond, directs the Centre for Macroeconomics, and serves on the council or as an advisor to multiple organisations.

More about this event

The (@CFMUK) is a research centre that brings together a group of world class experts to carry out pioneering research on the study of nations’ prosperity, and the crises that afflict them, helping to design policies that will create a healthier and more resilient economy.

Join us on campus or register to watch the event online at LSE Live. LSE Live is the home for our live streams, allowing you to tune in and join the global debate at LSE, wherever you are in the world. If you can't attend live, a video will be made available shortly afterwards on LSE's YouTube channel.

The hashtag for this event is #LSEEvents

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