European Central Bank (ECB) President Christine Lagarde reiterated her pledge on Monday 21 June that the monetary institute will address all aspects of monetary policy as part of the ongoing policy review at a monetary dialogue in the European Parliament (see EUROPE 12389/18).
After a pause caused by the Covid-19 pandemic in 2020, the discussion has resumed and is now progressing “vigorously”, Ms Lagarde assured, the day after a specific retreat of the Governing Council. She spoke of a huge effort by ECB and national central bank staff in “thirteen separate workshops”, with input from a wide range of stakeholders.
“The remaining discussions will focus on deriving their joint implications for the monetary policy strategy. We made good progress during the retreat, and we will make the outcome of the strategy review public after taking formal decisions. We are not there yet at this stage”, said the ECB President.
At the retreat, the Governing Council discussed the inflation target of the monetary institute, the links between climate change and monetary policy and the modernisation of the Central Bank’s communication. The results of the review are expected by the end of 2021. (Original version in French by Mathieu Bion)