UTS Finance Masterclass
“Has monetary policy gone beyond its effective limits, or are central banks destroying capitalism?”
With the RBA reducing the cash rate below 1% the debate about the effectiveness of monetary policy has taken on new urgency. Fortunately for us here in Australia many other countries have been experimenting with ultra easy monetary policy for more than a decade. The results are not encouraging. Indeed, one could argue that ultra easy monetary policy is doing more harm than good.
In this Policy Debate Industry Professor Warren Hogan will argue that not only has monetary policy gone beyond its effective limits, but ultra easy and unconventional monetary policies are jeopardising the efficient operation of free market economies which could ultimately end in a loss of broad community support for our current economic structures.
Professor Warren Hogan will cover the following in his presentation:
- What are the costs of ultra easy monetary policy?
- How does this interact with the political system?
- Why have central banks taken us down this path?
- What can be done?
- Where will it end if a new consensus on the appropriate role of monetary policy is not formed up quickly?
A panel of industry experts will respond to Professor Hogan’s presentation and lead a debate on the merits of the arguments and the path forward for policymakers, business and financial markets. Our panel is:
Adam Creighton, Economics Editor, The Australian
Economics and finance journalist at The Australian since 2012. Member of the National Archives Advisory Council. Previous roles include Business Anchor at Your Money, reporter for The Wall Street Journal, journalist for The Economist and Senior Adviser to the Leader of the Opposition, the Hon. AJ Abbott.
Joseph Healy, CEO Judo Bank
Co-founder and co CEO at Judo Bank since 2015. Previous roles include Group Executive/ Divisional CEO at NAB Business Banking and executive positions at ANZ, CIBC World Markets, Citibank and Lloyds Bank. Author of Breaking the Banks (2019), Chinese Firms going Global - Can they Succeed? (2018) and Corporate Governance and Wealth Creation (2003).
Tony Morriss – Chief Economist Bank of America Merrill Lynch
Director at BAML since 2014. Previous roles include Global Head of Interest Rate Research at ANZ, Senior Economist at New South Wales Treasury Corporation, Market Strategist at Bankers Trust Australia and Managing Analyst Asia for Thomson Financial.
Warren Hogan – Industry Professor at UTS Business School
UTS Business School Executive-in-Residence since 2018. Previous roles include Chief Economist at ANZ, Principal Advisor at the Commonwealth Treasury, Chief Economist and Head of Interest Rate Research at Credit Suisse.
Continuing Education (CE) credit for members of CFA Institute:
The CFA Society Sydney has determined that this program qualifies for 1.5 CE credit hour(s) under the guidelines of the CFA Institute Continuing Education Program. If you are a CFA Institute member, use the member app to record your CE credit for your participation in this presentation.
Attendees are invited to continue the discussion and networking over drinks and light refreshments.
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