According to the ECB chairman, there is agreement in the Governing Council on the fundamental direction of monetary policy. When it comes to “precise calibration”, however, there are differing views.
(Photo: Imago Images/Xinhua)
frankfurt The European Central Bank (ECB) wants to be more understandable with its new strategy. “Unfortunately, this was not clear at today’s meeting,” criticized Michael Holstein, chief economist of DZ Bank. He summarized ECB President Christine Lagarde’s remarks in a simple statement: “Monetary policy will be too expansionary for a very long time.”
Marchel Alexandrovich, European economist at US bank Jefferies, sees a similar commitment at the central bank to raise interest rates “by 2023 at the earliest”.
Since this trend was expected, the markets did not show a clear trend. Konstantin Veit, portfolio manager at Allianz fund company Pimco, commented that the results of the monetary policy meeting “substantially met expectations”. He interprets loose monetary policy as a “tailwind for risk investing”.
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Connor Beaumont is a contributor to CA News Ottawa, covering news, politics, business, technology, sport, entertainment, and lifestyle. He focuses on clear, accurate reporting and useful information that helps readers stay informed about current affairs and developments that shape their communities. His work highlights relevant stories, emerging trends, and important issues, presenting them in a balanced, accessible, and reader-friendly manner.
