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No great surprises in Christine Lagarde's.......>

MNI (London)
ECB: No great surprises in Christine Lagarde's first keynote speech as ECB
President. Lagarde notes the slowing and changing global economies and accepts
there must be policies to boost internal growth. She looks for a 'new European
policy mix' between monetary and fiscal. She says the ECB's accommodative policy
stance "has been a key driver of domestic demand during the recovery, and that
stance remains in place" and will and respond to future risks in line with our
price stability mandate. But Lagarde adds that policy "could achieve its goal
faster and with fewer side effects if other policies were supporting growth
alongside it," pointing to one key element: euro area fiscal policy.
MNI London Bureau | +44 203-865-3812 |
MNI London Bureau | +44 203-865-3812 |

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