Monetary policy in perspective
Join Klaas Knot, who served as President of the Dutch Central Bank (DNB) for 14 years, as he reflects on his extensive experience in the European Central Bank’s (ECB) Governing Council.
In this lecture, Klaas will break down his tenure into three distinct phases: the Eurozone debt crisis, the low-inflation trap, and the recent high-inflation shock. Drawing on the insights gained from each period, he will explore key lessons in monetary policy through the lens of the AD/AS framework, emphasising the diverse impacts of monetary transmission across different economic contexts. With a distinguished career in central banking and financial stability, including his current role as Chair of the Financial Stability Board, Klaas will share invaluable perspectives on the challenges of managing monetary policy in times of crisis, inflationary pressures, and systemic risks.
Meet our speaker and chair
Klaas Knot (@KlaasKnot) was President of the Dutch Central Bank from 2011 to 2025. Since 2021, he has chaired the Financial Stability Board. He is a member of the ECB’s Governing and General Councils, the European Systemic Risk Board, the IMF Board of Governors, and the BIS Board. Prior to his DNB role, he was Deputy Treasurer-General and Director of Financial Markets at the Dutch Ministry of Finance (2009–2011).
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
This is the first edition of the CFM-RCM lecture series, which invites former policymakers to reflect on their experiences and to raise challenges and open questions for future researchers. It is a joint initiative of the Centre For Macroeconomics and Rokos Capital Management to promote our understanding of macroeconomic policy and of its interaction with financial markets.
The Centre For Macroeconomics (@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.
RCM is a global alternative investment fund manager combining directional and relative value trading across global macro asset classes to generate uncorrelated returns. Their core portfolio structure of intersecting product verticals is designed to perform for investors in all market conditions.
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