Monetary Policy and Macroeconomic Forecasts Overview

In this keynote speech, Fabio Panetta, Governor of Banca d’Italia, discusses the evolution of monetary policy and macroeconomic forecasting over the past fifty years. He highlights the transformation of central banks' roles, the importance of forecasts in decision-making, and the impact of economic shocks on policy strategies. Panetta emphasizes the need for transparency and accountability in central banking and the growing significance of risk management in uncertain environments.