Central banks around the world took centre stage in tackling the global financial crisis and continue to play an important role in supporting economic recovery worldwide. At the same time, developments in the international financial system, new technologies and secular trends are posing new challenges for the global economy and, as a result, for central banks as well. Against this backdrop, the Bundesbank will host a policy symposium focusing on the benefits and boundaries of non-standard monetary policy, the political economy aspects of the interactions between central banks and governments, and the impact of new financial technologies on the future of central banking.

The policy symposium followed a high-level academic conference on the same topics.

Welcome address 10.00 – 10.30

© Frank Rumpenhorst Dr Jens Weidmann, President of the Deutsche Bundesbank

Policy Panel 1: "Benefits and boundaries of unconventional monetary policy" 10.30 – 12.00
Moderator: Volker Wieland, Goethe University Frankfurt
Masaaki Shirakawa, Aoyama Gakuin University, Governor of the Bank of Japan from 2008-2013	Jean-Claude Trichet, Bruegel, President of the European Central Bank from 2003-2011	Axel A Weber, UBS, President of the Deutsche Bundesbank from 2004–2011

Policy Panel 2: "Who is willing to act? Passing on the hot potato of policy intervention" 13.30 – 15.00
Moderator: Barry Eichengreen, Berkeley University
Jaime Caruana, Bank for International Settlements	Christine Lagarde, International Monetary Fund	Mario Monti, Bocconi University

Policy Panel 3: "How do new technologies shape the future of central banking?" 15.30 – 17.00
Moderator: Stephen Cecchetti, Brandeis International Business School
Claudia M Buch, Deutsche Bundesbank	Blythe Masters, Digital Asset Holdings
Ravi Menon, Monetary Authority of Singapore	Cecilia Skingsley, Sveriges Riksbank

Concluding remarks 17.00

Otmar Issing, Center for Financial Studies