Central bank independence as a prerequisite for financial stability

Speaker: Mr Richard Sharp, Bank of England, Member of the Financial Policy Committee

Join us to hear Mr Richard Sharp present his views on the central bank independence in monetary policy.

The case for central bank independence in monetary policy is well established internationally. In the UK, this power was delegated to the operationally independent Monetary Policy Committee in 1997. Numerous countries in the world have followed the UK example and now have similar structures in place, with a proven track record of improved inflation targeting.

In the area of financial stability, independence is still a new idea. The UK remains one of the few states of the world, which, with the creation of the Financial Policy Committee six years ago, delegated powers over macroprudential tools to an independent committee. Richard’s speech will explore the trade-off between the benefit of an independent regulator resisting short-term temptations, and any problems associated with delegating polices with important distributional implications to an unelected committee. In exploring the topical debate, Richard will also provide some of his personal insights of the FPC itself from his perspective as an external member.

Biography
Term of appointment: 1 April 2013 - 31 March 2019
Richard Sharp has over 30 years of experience in the financial sector, including commercial banking, derivatives, fixed income, private equity and investment banking. He spent 23 years at Goldman Sachs where he held a number of senior roles, most recently as Chairman of Goldman Sachs’ Principal Investment business in Europe. Prior to this, he worked in both commercial banking and investment banking for JP Morgan.

Currently Richard is Chief Executive of DII Capital UK Adviser LLP, and a partner in Roundshield Partners LLP and SW7 Asset Management (UK) LLP; he is also a Director of Oncimmune, a former Chairman and an Emeritus Trustee of the Royal Academy and a Director of International Rescue UK.

Timings:
6pm - 6:30pm - Registration and welcome
6:30pm - Presentation from Mr Richard Sharp
7:20pm - Q&A
7:35pm - Post event networking and refreshments

We're looking forward to welcoming you to the event.

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