Dinner speech by Luis de Guindos, Vice-President of the ECB, at the 5^th ECB macroprudential policy and research conference jointly organised with the International Monetary Fund

Frankfurt am Main, 17 October 2023

It is with great pleasure that we host the fifth ECB macroprudential policy and research conference, the first one to be held in person since the beginning of the pandemic.

This conference aims to preserve close ties between the research community, practitioners and policymakers in the macroprudential policy field which, especially in the euro area, is still relatively young.

From my point of view, the macro-financial challenges we are currently facing certainly provide a strong motivation to further strengthen the ties between research and policy.

Let me highlight some of the challenges that lie ahead from a macroprudential perspective and point to some areas where I believe research could support policy-making in the current environment.

Economic activity remains…