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Lagarde Says ECB Making ‘Good Progress’ on Strategy Overhaul

EconomyJun 21, 2021 07:25
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2/2 © Bloomberg. Christine Lagarde, president of the European Central Bank (ECB), speaks during a live stream video of the central bank's virtual rate decision news conference in Frankfurt, Germany, on various screens arranged in Danbury, U.K., on Thursday, March 11, 2021. The central bank’s immediate focus is on keeping financial conditions favorable. Photographer: Chris Ratcliffe/Bloomberg 2/2

(Bloomberg) --

European Central Bank President Christine Lagarde said its governing council is making “good progress” in talks on the biggest overhaul of the institution’s monetary policy in almost two decades.

The entire governing council met in person this weekend for the first time since the outbreak of the pandemic. The talks in Taunus, Germany aim to retool the ECB for the 21st century, with a new inflation goal, better ways of measuring the economy, and agreement on how to treat issues such as climate change and inequality.

“I am glad we were able to have in-depth discussions and we made good progress in shaping the concrete features of our future monetary policy strategy at our retreat,” she said in a statement on the ECB website.

How the ECB Is Overhauling Strategy in the Midst of a Pandemic

Results of the talks are expected before the annual ECB Forum on Sept. 28-29. The review has also allowed a fresh look at profound economic trends, generating thousands of pages of insights to inform policy decisions in the post-pandemic world, potentially for decades.

©2021 Bloomberg L.P.

Lagarde Says ECB Making ‘Good Progress’ on Strategy Overhaul
 

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