SENIOR MANAGEMENT TEAM Luc Laeven Philipp Hartmann Luca Dedola Marie Hoerova Oreste Tristani MONETARY POLICY RESEARCH Michael Ehrmann Laura Gati Dimitris Georgarakos Marek Jarocinski Peter Karadi Geoff Kenny Ana Lamo Michele Lenza Bartosz Mackowiak Peter McAdam Anton Nakov Gonzalo Paz Pardo Alexander Popov Davide Porcellacchia Gerhard Runstler Sebastian Schmidt Jirka Slacalek Georg Strasser Alejandro Van der Ghote Carolina Villegas Sanchez FINANCIAL RESEARCH Toni Ahnert Andreas Beyer Johannes Breckenfelder Madalen Castells-Jauregui Stefano Corradin Peter Hoffmann Manfred Kremer Christian Kubitza Agnese Leonello Angela Maddaloni Simone Manganelli David Marques Ibanez Kalin Nikolov Melina Papoutsi Glenn Schepens Bernd Schwaab Jean-David Sigaux Dominik Thaler Francesca Zucchi