BOK Hosts International Conference "Discussing Neutral Interest Rate Changes and the Global Economy"

The Bank of Korea announced on the 28th that it will hold the 2024 BOK International Conference on the 30th at the BOK Conference Hall in Jung-gu, Seoul, under the theme "The Evolution of the Natural Interest Rate and Its Implications for the Global Economy."

In the opening session, Thomas J. Jordan, President of the Swiss National Bank, will deliver a keynote speech on the significance of the natural interest rate as a reference point for monetary policy. Following this, Lee Chang-yong, Governor of the Bank of Korea, will engage in a two-person policy dialogue discussing various policy issues including the natural interest rate.

The conference will discuss the latest research findings and policy cases related to the natural interest rate and draw implications. Specifically, topics such as the impact of demographic structure, safe asset supply, and global capital flows on the natural interest rate, the relationship between the natural interest rate and fiscal policy, and trends in the natural interest rate in advanced and emerging countries will be discussed.

This year’s conference is composed of various programs including four general sessions and one special session consisting of paper presentations and discussions, as well as a Fireside Chat and panel discussions with a comprehensive discussion format, in addition to the opening session.

Key international figures participating in the conference include Peter Kazimir, Governor of the National Bank of Slovakia; Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka; Eli Remolona, Governor of the Central Bank of the Philippines; Thomas Sargent, Professor at New York University; and Eric Leeper, Professor at the University of Virginia.

Domestic participants include Park Woong-yong, Professor at Seoul National University; Kim Yoon-jung, Professor at Sogang University; Choi Sang-yeop, Professor at Yonsei University; and Shin Kwan-ho, Professor at Korea University. From the Bank of Korea, participants include Jang Yong-sung, Monetary Policy Committee member; Lee Jae-won, Director of the Economic Research Institute; and Do Kyung-tak, Manager.