The transmission of conventional and unconventional monetary policy actions to credit markets is influenced substantially by the changing economic environment. Since the start of the Great Recession, credit markets have not only been the source of macroeconomic disturbances, but have also been instrumental in the transmission of shocks from other sectors of the economy. Impairments in the interest rate pass-through, for example, have affected all segments of the financial system, with a particularly large impact on the banking sector. The aim of this conference is to enhance theoretical and empirical understanding of the channels through which monetary policy is transmitted to financial intermediaries and credit markets.

The conference will be hosted by the European Central Bank (ECB) in Frankfurt am Main on 23-24 October 2017.