Monetary Policy Making and Financial Markets
We address monetary policy instruments for supporting effective monetary transmission mechanisms and ensuring financial market liquidity. We discuss monetary policy implementation procedures, especially in the context of the Eurosystem framework. In addition, our attention goes to financial market infrastructures as supporting elements for development of financial markets. We address payment and settlement systems and their compliance with the latest guidelines and standards to support efficient and safe financial intermediation. Having in mind rapid technological advancements and new emerging actors in financial markets, we focus on financial technologies (fintech, big tech), crypto assets, and (central bank) digital currencies. We provide opportunities to exchange practices on fostering financial inclusion and access to finance.
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2026 Highlights
In 2026, we will prioritize practical, decision-relevant learning that helps central banks link policy frameworks with market functioning and financial infrastructure realities. One of the newly introduced aspects will be strengthening how high-quality credit data is governed and used, both for analytical insights and for better-informed policy choices.
We will explore payments innovation by pairing modernization with strong oversight, resilience, and interoperability to enable more efficient operations and build trust through safer, more reliable payment infrastructure that users and the financial system rely on. Finally, we will observe current developments in monetary policy and operations mean in operational terms.
