RBM Monetary Policy Conference to discuss effectiveness of traditional policy designs

RBM headquarters in Lilongwe

The Reserve Bank of Malawi (RBM) has organized this year’s Monetary Policy Conference which will among others give delegates an opportunity to deliberate ways of enhancing monetary policy in the prevailing economic environment.

A press release from the bank indicates the gathering scheduled to take place from 29th to 30th September in Lilongwe, will among others look at the role of Monetary Policy, if there is any room for changes in mandates, frameworks and governance arrangements.

It noted that the COVID-19 global pandemic has, amongst other effects, compelled central banks to deploy unconventional monetary policy measures in order to support economic recovery, while at the same time being mindful of the price stability objective.

“The pandemic has also led to the emergence of financial innovations, which may challenge the effectiveness of the traditional monetary policy design.

RBM Governor Dr. Wilson Banda captured in this Mana file photo

“It might, therefore, be important to accommodate these innovations in the current policy environment in pursuant of central banks' mandates in order to enhance their effectiveness”. Reads the statement

Participants to the two day conference will also look at topics such as towards more Resilient Economies, modernizing monetary policy, Monetary and Macro-prudential Policies and Central Bank Digital Currencies.

Key speakers at the conference will include: Labour Minister Vera Kamtukule, RBM Governor Dr. Wilson Banda, Central Bank of Ghana Governor, Dr. Ernest Addison, Associate Prof. Ronald Mangani from the University of Malawi, Prof. Njunguna Ndung'u, Executive Director, African Economic Research Consortium (AERC) and Dr. Louis Kasekende, Executive Director, Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI).