BIS SPEECHEScentral bank
Playing the long game - how should monetary policy adapt to the Great Reconfiguration?
Hawkish Score0Neutral
Trailing 8 speeches
Speaker DriftFabio Panetta · 10 speeches in 12motrend: neutral
−100neutral band ±25+100
What changed vs prior statement
- 01Shift in focus from uncertainty and innovation to adapting monetary policy for economic reconfiguration.
- 02Introduces "Great Reconfiguration" terminology, indicating a shift in economic context and challenges.
- 03No vote-record change.
From the original
Speech by Mr Fabio Panetta, Governor of the Bank of Italy, at the closing conference of the ESCB Research Network on "Challenges for Monetary Policy Transmission in a Changing World (ChaMP)", hosted by the Bank of Italy, Rome, 7 July 2026.
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