Events

The importance of central bank reserves

Hosted by the Financial Markets Group

In-person and online public event (Sheikh Zayed Theatre, Cheng Kin Ku Building)

Speaker

Andrew Bailey

Andrew Bailey

Chair

Professor Ricardo Reis

Professor Ricardo Reis

Join us for this lecture in honour of LSE's Charles Goodhart which will be delivered by the Governor of the Bank of England Andrew Bailey.

In this lecture, the Governor talks about the key role that central bank reserves play in delivering the Bank of England’s core mandates of securing financial stability and conducting monetary policy. He discusses implications for the future of the Bank’s balance sheet.

Meet our speaker and chair

Andrew Bailey is Governor of the Bank of England, a position he has held since March 2020. Andrew served as Chief Executive Officer of the Financial Conduct Authority (FCA) from 1 July 2016 until taking up the role of Governor. As CEO of the FCA, Andrew Bailey was also a member of the Prudential Regulation Committee, the Financial Policy Committee, and the Board of the Financial Conduct Authority.

Ricardo Reis (@R2Rsquared) is Director of the Centre for Macroeconomics and A. W. Phillips Professor of Economics in the Department of Economics at LSE

More about this event

This event will be available to watch on LSE Live. LSE Live is the new home for our live streams, allowing you to tune in and join the global debate at LSE, wherever you are in the world. If you can't attend live, a video will be made available shortly afterwards on LSE's YouTube channel.

This is the third lecture in the PGIM Lecture Series in Honour of Charles Goodhart.

The PGIM Lecture Series in Honour of Charles Goodhart was set up in 2022 to honour Charles Goodhart, eminent economist and Emeritus Professor at LSE. Charles was instrumental in the founding of the Financial Markets Group more than 35 years ago. Charles Goodhart was appointed to the Norman Sosnow Chair of Banking and Finance at LSE in 1985, until his retirement in 2002 when he became Emeritus Professor of Banking and Finance. He was elected a Fellow of the British Academy in 1990, and awarded the CBE in 1997, for services to monetary economics. During 1986, he helped to establish the Financial Markets Group at LSE. For the previous 17 years he served as a monetary economist at the Bank of England, becoming a Chief Adviser in 1980. Following his advice on overcoming the financial crisis in Hong Kong in 1983, he subsequently served on the HK Exchange Fund Advisory Committee until 1997. The same year he was appointed one of the four independent outside members of the newly-formed Bank of England Monetary Policy Committee. He became an economic consultant to Morgan Stanley in 2009, until he resigned, at the age of 80, in 2016. Charles has written widely on matters relating to monetary policy, especially central banking, and macro-economics. He is the author of Goodhart's Law "that any observed statistical regularity will tend to collapse once pressure is placed upon it for control purposes".

The Financial Markets Group (@FMG_LSE) is a leading centre for research into financial markets. Research at the FMG examines how stable and efficient the financial system is, how it supports the real economy, and what policy measures can generate improvements in these dimensions.

Hashtag for this event: #LSEGoodhart

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A podcast of this event is available to download from The importance of central bank reserves.

A video of this event is available to watch at The importance of central bank reserves.

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