Monetary Policy with Low Real Interest Rates: Implications and Prospects

Participants are invited to a subsequent networking aperitif.
Datum14 Mai 2025
Zeit13:00 - 17:00
StandortZunfthaus zur Schmiden, Zürich
Prof. Philippe Bacchetta, SFI Senior Chair, Universität Lausanne
Dr. Barbara Rudolf, Monetary Policy Analysis, Economic Advisor, Swiss National Bank

While central banks around the world have been increasing their policy rates, we still live in an environment of historically very low real interest rates. This generates challenges, which are added to those of the current context of higher inflation and higher government debt, countries' unequal recovery from COVID, and war in Europe. There is significant uncertainty regarding the economic outlook, in particular concerning future growth, future inflation, and future interest rates. This is challenging for central banks and governments, but also for the financial sector.

 

Objective

This Master Class provides the background necessary for understanding the current environment and potential future scenarios. It takes a global perspective, but also places special emphasis on Switzerland, and will enable participants to sharpen their understanding of the drivers of global interest rates and of monetary policies.

The Class will start with a review of the recent evolution of various types of interest rates and the debate around the causes of that evolution. We will discuss the recent strategies of the main central banks, from very loose monetary policies to the current phase of tightening. Special attention will be given to the evolution of yield curves and bank rates in this context. Participants will have the opportunity to exchange on how this affects their daily business and how they cope best.
 
Regarding future prospects, the Master Class will explore the various forces at play, and review the options available to central banks and the interaction between monetary and fiscal policies. 


SFI Master Class Features and Target Audience

SFI Master Classes offer seasoned banking and finance professionals a unique opportunity to exchange knowledge and share their professional views with top-level academics and industry experts in an interactive learning environment. Master Classes incorporate hands-on group work and opportunities for discussion. An on-site networking event will follow this Master Class.

This particular Master Class is aimed at professionals in the financial industry who are interested in central bank actions, in global economic questions, and/or are focusing on fixed income investments.

 

SAQ Recertification

This SFI Master Class is an acknowledged SAQ recertification measure and comprises four learning hours for the following SAQ profiles: 

  • Wealth Management Advisor CWMA

  • Advisor Affluent Clients

  • Advisor Individual Clients

  • Certified Corporate Banker CCoB

  • Advisor SME Clients

This SFI Master Class covers the "industry knowledge" aspect.

 

Late cancellations and no-shows

If you have registered for a Master Class but are unable to attend, we kindly ask that you inform us as soon as possible. Places are limited, and late cancellations and no-shows not only prevent those on the waiting list from attending but also result in an inefficient allocation of valuable resources. Your cooperation in communicating any unexpected changes regarding your participation at this Master Class is greatly appreciated.

To register, please complete the form below

Personal Information

Persönliche Angaben

Informations personnelles

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Each SFI Master Class targets experienced specialists and leaders from the banking and finance industries. The profile for participants is:
  • At least 10 years of relevant professional experience; management and leadership experience is considered a plus.
  • Strong analytical skills.
  • Capacity for in-depth, interdisciplinary thinking.
  • A university background or corresponding professional qualifications.

Jede Master Class richtet sich an erfahrene Fach- und Führungskräfte aus der Banken- und Finanzbranche. Das Teilnehmerprofil umfasst:
  • mindestens 10 Jahre einschlägige Berufserfahrung; Management- und Führungserfahrung sind von Vorteil.
  • ausgeprägte analytische Fähigkeiten.
  • Fähigkeit zu tiefgreifendem, interdisziplinärem Denken.
  • eine Hochschulausbildung oder eine entsprechende berufliche Qualifikation.

Chaque Master Class s'adresse à des spécialistes expérimentés et à des dirigeants du secteur bancaire et financier. Le profil des participants est le suivant:
  • Au moins dix années d'expérience professionnelle pertinente ; une expérience managériale est considérée comme un atout.
  • De solides compétences analytiques
  • Une capacité de réflexion approfondie et interdisciplinaire
  • Une formation universitaire ou des qualifications professionnelles correspondantes.
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Data Sharing Approval

Zustimmung zur Datenweitergabe

Autorisation de partage des données

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SAQ Recertification

SAQ-Rezertifizierung

SAQ Recertification fr

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SFI Newsletter

SFI Newsletter

Newsletter SFI

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Terms and Conditions

Geschäftsbedingungen

Conditions générales

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Anwendbares Recht und Gerichtsstand: Der Vertrag über die Durchführung von SFI Master Classes besteht zwischen den einzelnen Teilnehmenden und dem Swiss Finance Institute. Dieser Vertrag unterliegt schweizerischem Recht. Der Gerichtsstand ist die Stadt Zürich.

Disclaimer and Contact

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Clause de non responsabilité et contact

Program management reserves the right to decide whether each SFI Master Class will take place or not.

Kontakt: SFI Master Class Team, masterclass@sfi.ch