MNI China Daily Summary: Thursday, December 12

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Lagarde: We're Trying To Have As Much Optionality As We Can

ECB

Q: Is this announcement a statement that you are dropping ‘gradual normalisation’ in preference for a ‘whatever it takes’ approach to undesirably high inflation?

  • A: The GC will maintain optionality, data dependence, gradualism, and flexibilty in the conduct of monetary policy. There will be circumstances where one of these four may be more important than the other. We are trying to have as much optionality as we can.

Q: On tackling fragmentation, would the new instruments only be designed and launched once the existing instruments have been fully utilised?

  • A: Within our mandate, we are committed to preventing fragmentation risks. We know how to design and how to deploy instruments as necessary.
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