The former president of the European Central Bank Terraie: We are at the historical turning point, and inflation is about to make a comeback

On September 21-22, in order to further enhance the international competitiveness of the Guangdong-Hong Kong-Macao Greater Bay Area, in the context of increasingly close cooperation between the Mainland and Hong Kong and Macao financial markets, the "Fenghuang Bay District Finance Forum 2022" was held in Hong Kong and the Mainland. Satellite TV and Phoenix.com have jointly launched and received support from more than ten academic institutions. Focusing on the theme of "Change Bureau and Confidence", multiple forums are set up to explore important issues such as global economic challenges under the big change, the Dagang area mission under China Financial Open, the construction of the Guangdong -Hong Kong -Macao Greater Bay Area, the Hong Kong capital market leadership and driving driving Essence

Vice Chairman of the French Academy of Ethics and Political Sciences, former President of the European Central Bank, and Honorary President of France, Minsai Claude Terry

Speaking of the global economy, the vice chairman of the French Academy of Ethics and the Political Sciences, the former president of the European Central Bank, and the Honorary Governor of the Bank of France, Shang Jie Claude Terry, said that we are currently at a historical turning point -a (relative) low inflation (Relative) In the era of low interest rates, the tightening of currency has passed, and inflation is about to make a comeback. At that time, interest rates will rise sharply, and we must face a series of risks, including strategic risks.

Nevertheless, he believes that we still have a hopes in currency, that is, the consensus of major central banks in the world on maintaining a 2%inflation rate. He said that maintaining a 2%inflation in the middle period is a policy that has been greatly recognized in Europe and the United States, and it is also a positive factor in many unfavorable factors at the moment.

Terry claims that in terms of inflation, the special withdrawal of the special withdrawal of the funding (USD, euro, RMB, yen, and pound) of a basket of currencies is consistent.

The following is a record of Shang • Claude Terry at the "Phoenix Bay District Finance Forum 2022":

Thank you very much for this forum organized by Phoenix Satellite TV COO and CEO of Phoenix.com. His speech has benefited me a lot. I am glad to see my good friend Dai Xianglong in this forum. Dai Xianglong served as the president of the People's Bank of China from 1995 to 2000. At that time, I was the third president of the French Bank of France. Before the euro started, we had a good cooperation.

At the moment, I think the convening and issues of this forum ("help the construction of the Greater Bay Area and the development of financial support for the Greater Bay Area") is extremely important. Every time I come to China, I can see Chinese experts, economists and market participants actively discussing the issue of fintech development. This impressed me. In addition, the issues of green finance and corporate ESG on this forum are also eye -catching. In short, in the current new world currency, financial and economic environment, the convening of "Change Bureau and Faith -the Financial Forum 2022 of the Phoenix Bay Area" coincides with the meaning.

We are in the era of historical inflection point -a era of (relative) low inflation, (relative) low interest rate, and currency tightening has passed, and inflation is about to make a comeback. At that time, interest rates will rise sharply, and we must face a series of risks, including strategic risks. That will be a difficult and harsh era. Nevertheless, I still believe that in terms of currency, we still have a line of hope: major central banks around the world have a general consensus and the same goals for stable prices, that is, maintaining 2%inflation in the medium period (2%of inflation data has been greatly obtained in Europe and the United States Acknowledge). This is a positive factor in many unfavorable factors in the world today.

In my opinion, in terms of inflation, the special withdrawal right -five currencies (USD, euro, RMB, yen, and pound) formed a basket of medium goals for the consistency.

thanks.

This forum is supported by the chief strategic cooperation between the Oriental Luxury flagship MPV Red Flag HQ9, and has received academics of National Financial and Development Laboratory, the Chinese University of Hong Kong (Shenzhen), Shanghai Jiaotong University Shanghai Advanced Finance College, Druck Management College, France's Lyon Business College and other academics. The support of the organization, and the special support of Qingshuang Lang, the left bank of the Akui River on the left bank of the Chi Shui River. At the same time, China Fund News, Sing Tao News Group, Hong Kong Dagong Wenhui Media Group, Ming Pao, Hong Kong Business Daily, Asian Weekly, Bauhinia Magazine and other media institutions cooperated.

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