Q: What will be different vs last review,.......>

ECB: Q: What will be different vs last review, when inflation needed taming.

- A: This reversal requires we look at strategy - we cannot operate as we did in

2003. Which doesn't mean we have to change this that or the other, but we have

to look at effectiveness of our monpol. There is very mild fiscal expansion as

we speak - 2 of the countries which have fiscal space are now seriously looking

at how to expand with their domestic budget. Authorities must decide but good

fiscal response will have positive effect on monpol.

- Q: Will it be difficult to deliver on mandate with climate change conflict?

How important is it to reach unanimity in monpol decisions?

- A: On climate change. Aware of arguments against - will it be a distraction,

why is this the role of central banks, others may not act. But also aware of

failing to try and the consequences. Draws line between consensus building and

repressing alternative views - there are lots of views around table and all

Governors have space and time to submit their views. At the end of the day still

have to write Statement. May be that we don't have unanimous decision, may be

majority decision at some point, but we need a decision.