Christine Lagarde
ECB announces moderate cut in net asset purchases
Council unanimously agrees adjustment despite mid-term below-target inflation projections
Too great expectations from the ECB’s strategy review
The review process represents operational best practice, but will fail to unify the Governing Council
ECB council divided on forward guidance, minutes show
Some senior officials argued new formulation risks inflation overshooting
Is the ECB’s strategy review enough?
The reformed framework may allow greater stimulus to tackle weak inflation expectations, but the Governing Council is already divided on what to do next
ECB reinforces commitment to monetary stimulus
Central bank expects inflation to reach 2% “durably”, midway through its projection horizon
ECB set to adapt forward guidance in July meeting
Analysts expect ECB to adjust policy to meet goals of recent strategy review
New inflation target set to bind ECB to ‘lower for longer’ strategy
Symmetric 2% target should allow council to boost APP purchases as Pepp is phased out, say analysts
ECB adopts 2% symmetric inflation target
Central bank chooses not to follow Federal Reserve’s lead on average inflation targeting
ECB likely to shy away from AIT in new monetary policy framework
Symmetric 2% target is expected outcome; governing council members struggle to agree on forward guidance
ECB maintains high rate of bond purchases
Lagarde says eurozone inflation likely to rise in autumn but fall at start of 2022
Central bank profits under pressure
The structure of a central bank’s portfolio and its relationship with shareholders can affect shock-absorbing capital and the amount of profit distributed
ECB poised to clarify tapering of PEPP purchases
Analysts agree central bank views higher inflation as transitory and will maintain rate of purchases
Powell, Lagarde and Yi call for urgent action on climate change
Lagarde says asset taxonomy is needed soon while Yi says G20 must create disclosure standard
Weidmann drops opposition to ‘greening’ ECB bond holdings
Bundesbank president says ECB could limit purchases of corporate bonds from some sectors
‘Run it hot’: the risks and rewards of a new policy era
Covid-19 has added impetus to an emerging intellectual shift in policy-making. But central banks face unresolved issues – on expectations, on fiscal policy, and on the capacity of the economy to ‘run hot’
Number of women in financial services is ‘pathetic’ – IMF’s Georgieva
IMF and ECB heads say central banks must increase their representation of women
Cash infrastructure as public good – implications for the cash cycle
Efforts are under way in the Eurosystem to safeguard cash infrastructure as a ‘public good’ even as transaction volumes have fallen significantly. How can policy-makers strike the right balance?
ECB officials suggest dropping market neutrality
Isabel Schnabel and Frank Elderson say climate change requires new approach to bond purchases
Is the ECB implementing yield curve control?
The eurozone has adopted a hybrid system – lying somewhere between the Fed’s QE and the BoJ’s yield curve control – that targets wider financing conditions
Emerging-market central banks lead on women’s empowerment
EME central banks have more women at staff level and in senior positions, but there are deep disparities worldwide, with childcare availability appearing to be a major cause
‘Giant of the field’ Robert Mundell dies
The Nobel laureate influenced a generation of economists via the Mundell-Fleming model
A bellwether moment for CBDC plans
The launch of the ‘sand dollar’ may herald a new era of CBDCs as the Fed and ECB step up their preparations
Lagarde highlights uncertain outlook due to vaccination
ECB ready to adjust policy tools to ensure inflation increases towards target
ECB to increase asset purchases
Lagarde says PEPP decision was unanimous as ECB staff increase inflation and growth forecast