Christine Lagarde, the first woman to head the European Central Bank, has convened this Thursday, December 12th its first board of governors. Refusing to be locked in the debate between proponents of support for growth and supporters of monetary orthodoxy, the new president of the ECB promises to print her style.
" I would have my own style. Do not over-interpret, do not anticipate, do not make references, "warned Christine Lagarde, the first woman to lead the Frankfurt institution at her first press conference as President of the ECB.
" I am neither a dove nor a hawk. My ambition is to be an owl, which is often associated with some wisdom, "she said.
No change in monetary policy at the moment. Interest rates remain negative on bank deposits with the ECB and the asset purchase program continues at a rate of 20 billion euros monthly. But the president is ready to review the whole strategy of the ECB for the first time since 2003.
A review in January 2020
" The idea is to launch this review in January and to reach the end of 2020. In this reflection will be included parliamentarians, researchers and representatives of civil society, says the president of the ECB. It's not just a matter of preaching our good word, but also listening to the opinions of those to whom it is addressed . "
The challenges posed by global warming and technological developments will now be of concern to the ECB.