

Price Stability in Times of Change
Jul 2, 2025
In this engaging discussion, Andrew Bailey, Governor of the Bank of England, and Chang-Yong Ri, Governor of the Bank of Korea, join Jay Powell, Chair of the Federal Reserve, and Kazuo Ueda, Governor of the Bank of Japan, to tackle pressing economic challenges. They delve into strategies for combating inflation while navigating geopolitical tensions and trade uncertainties. The conversation also touches on the implications of digital currencies, the importance of trust among central bankers, and the risks posed by AI on public perception, offering insights into future monetary policies.
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ECB Hits Inflation Target Amid Shocks
- The ECB has achieved its 2% inflation target after managing multiple shocks in the past two years.
- The environment remains uncertain with risks that require vigilant and committed monetary policy.
Fed Cautiously Monitors Tariff Impact
- US inflation is near 2% and tariffs have not yet impacted prices significantly.
- The Fed is monitoring tariff effects closely and adjusting policy carefully based on incoming data.
South Korea Sees Tariffs as Deflationary
- South Korea views tariffs as more deflationary than inflationary due to weak aggregate demand and falling export prices.
- The Bank of Korea remains in an easing cycle but watches financial stability risks like rising housing prices.