Gabriel Makhlouf: The decade ahead

Remarks by Mr Gabriel Makhlouf, Governor of the Central Bank of Ireland, at the European Financial Forum "Ready for a new decade", Dublin, 12 February 2020.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Dia dhaoibh,

It is a pleasure to be here.

The theme of this year's European Financial Forum is "Ready for a new decade".

Looking back, I am not sure anyone could have fully predicted the changes that have taken place over the past decade.

In the Irish, euro area, and world economies. In trade and interconnectedness, in the structure of the financial system, in technology and in regulation.

To succeed in the face of these transitions, economies need not only stable and sustainable macroeconomic frameworks and sound monetary policy that delivers predictable prices.  They also need stable and well-regulated financial systems and well-functioning markets.

This morning, I am going to give a brief overview of the macroeconomic environment and outlook before I discuss some of the big challenges for the economy and financial system in the decade ahead.

I will also outline how I see the Central Bank of Ireland's role in the financial system, as well as discuss what we're doing in the area of regulation and supervision, both domestically and in Europe -  how we are getting ready for some of the challenges of the new decade.