New European Central Bank boss Christine Lagarde holds her first policy meeting ...
LONDON - New European Central Bank boss Christine Lagarde holds her first policy meeting on Thursday, where investors will scrutinize her every word for a sense of the direction she will take the bank in.
Lagarde is expected to signal a commitment to the recent stimulus package that included an interest rate cut and the restarting of controversial asset purchases, and no major changes are anticipated at the last ECB meeting of 2019. Creating the broadest possible consensus and ensuring the ECB speaks with one voice should be a top priority for Lagarde, officials told Reuters recently.
“I hope I will be an owl. I like owls. They are very wise animals,” she told the German press recently.3. Will Lagarde shed any light on the upcoming strategic review? At its last strategic review, in 2003, the ECB clarified its inflation target as “below, but close to, 2% over the medium term.” Inflation has since long fallen short of its aim, even after massive stimulus.
In her first policy speech as ECB chief, she argued that monetary policy will do its part to boost growth and inflation prospects but the main responsibility lies with other policymakers, which requires more and smarter investment and better use of fiscal policy.
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