Top Central Bankers to Discuss Global Economy
In Sintra, Portugal, leading central bankers from around the world are set to discuss monetary policy and the global economic outlook.
The heads of the central banks of the UK, the eurozone, the US, Japan, and South Korea are participating in a panel organized by the European Central Bank at its 2025 Forum on Central Banking.
The session is titled: Adapting to Change, Macroeconomic Shifts, and Policy Responses.
Panel participants include:
- Andrew Bailey, Governor, Bank of England
- Christine Lagarde, President, European Central Bank
- Jerome Powell, Chair, Federal Reserve
- Chang Yong Rhee, Governor, Bank of Korea
- Kazuo Ueda, Governor, Bank of Japan
Recent Developments
Jerome Powell stated that he could not confirm whether the Federal Reserve would lower interest rates this month, emphasizing that the decision depends on incoming economic data.
Christine Lagarde avoided commenting directly on the strength of the euro, noting that currency fluctuations reflect economic conditions in the eurozone.
Powell added that while most policymakers believe rate cuts may be appropriate later this year, future decisions will be guided by inflation and labor market trends.
Kazuo Ueda, head of the Bank of Japan, declined to address Donald Trump's threats of increased tariffs on Japanese imports, stating that the matter is under discussion by trade officials.
Andrew Bailey, Governor of the Bank of England, observed signs of a cooling UK economy and labor market, suggesting that interest rates will likely move downward.
Powell also indicated that recent trade policies, including tariffs, have delayed potential interest rate cuts in the US.
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