FRANKFURT - European Central Bank President Christine Lagarde is set to launch a broad review of its policy on Thursday that is likely to see her redefine the ECB’s main goal and how to achieve it.
Lagarde will, however, announce the start and scope of the ECB’s first strategic review since 2003, which will last for most of the year and span topics from the inflation target to digital money and the fight against climate change. The ECB could signal its commitment to boosting inflation by raising the goal to 2% and spelling out that it will take any undershooting just as seriously as an overshoot.
Rate-setters will also debate the pros and cons of their tools, such as sub-zero rates and massive bond purchases, which have been credited with staving off the threat of deflation but at the cost of an unprecedented rise in house and bond prices.
So, ECB decides what its mission and tools are? This became a joke.
The Protocols say that there was a point that our cunning would no longer work... too late. We woke up just a little before that time. Our cunning is kicking their asses.
That was dec 12, 2019. Has nothing to do with Davos. :))
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