FRANKFURT, Jan 23 ― With policy locked in easy-money mode, European Central Bank (ECB) watchers will look today for hints about its strategic review and an updated assessment of risks facing the eurozone economy. President Christine Lagarde will “be able to enjoy her honeymoon period without...
In her first three months in post, Christine Lagarde has invested much energy into overcoming divisions prompted by a September decision ― taken under predecessor Mario Draghi ― to ease monetary policy once more. — AFP pic
Helped by turnover in jobs on the ECB's 25-strong governing council, Lagarde has managed to treat some of the wounds sustained before she took over. But over the past seven years, it has failed to achieve that goal despite unprecedented policy experiments.Such “symmetry” in the inflation target could mean the bank would not immediately hit the brakes once inflation approaches two percent, instead potentially allowing it to overshoot a bit.
Lagarde has identified climate action as a new frontier for central banking, while retaining price stability as the ECB's primary mandate.The ECB chief's judgement of risks facing the euro area will also be closely scrutinised today.
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