Lisbon, June 30, 2025 (Lusa) - The ECB Forum kicks off in Sintra on Monday with an agenda focused on responding to change, at a time when Donald Trump’s policies are introducing new dynamics to the economic landscape. Christine Lagarde will open the event.
The president of the European Central Bank (ECB) will speak today at the reception dinner for this meeting, which runs until Wednesday and central bankers, academics and experts, including US Federal Reserve Chairman Jerome Powell, will attend.
The theme of this year’s ECB Forum is “Adapting to change: macroeconomic developments and policy responses”, at a time when US President Donald Trump has imposed tariffs and their repercussions on the economy and international trade have dominated discussions among world leaders and offer a challenge for monetary policy.
The Forum’s discussion sessions will begin on Tuesday, with Luis de Guindos, Vice-President of the ECB, leading a discussion on the macroeconomic implications of changes in euro area labour markets.
We will hold a session on “monetary transmission through households, consumption and savings”, based on an article on the discretionary spending cycle by Paolo Surico, professor at London Business School, followed by a panel on “heterogeneity across euro area countries and implications for monetary policy”, coordinated by Isabel Schnabel, member of the ECB’s Executive Board.
The day will end with a governors’ panel featuring Andrew Bailey, Governor of the Bank of England, Christine Lagarde, President of the ECB, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, Chang Yong Rhee, Governor of the Bank of Korea, and Kazuo Ueda, Governor of the Bank of Japan.
The third and final day begins with a discussion on “non-bank financial intermediaries, liquidity and their prudential treatment”, followed by a session on new industrial developments and the evolving architecture of international trade.
The programme also includes a session on the challenges of central bank communication and a conversation on how to tap into Europe’s growth potential between Philippe Aghion, Professor at the Collège de France and the London School of Economics, and Lars Feld, Professor at the University of Freiburg and Director of the Walter Eucken Institute.
Lagarde will close the event with her closing remarks after the presentation of the Young Economist Award.
MES/ADB // ADB.
Lusa
