Monetary policy in the 21st century: lessons learned and challenges ahead

Claudio Borio delves into the lessons learned from the past 25 years in monetary policy, emphasizing the need for a comprehensive macro-financial stability framework. He discusses the challenges faced by central banks in communication, forecasting inflation, and using macroprudential measures for financial system stability. The podcast explores possible refinements in monetary policy frameworks for price and financial stability through considerations like robustness and nimbleness.