Lagarde Unveils ECB Strategy Review

Strategy Review Long Overdue
Strategy Review Long Overdue

The ECB's monetary policy strategy was adopted in 1998 and was last reviewed in 2003.

"We cannot operate as we did back in 2003, which doesn't mean to say that we have to change this, that and the other, but we have to look comprehensively at the effectiveness of our monetary policy," Lagarde said.

The review is expected to conclude by the end of this year.

The former IMF managing director came to the helm of the ECB after Mario Draghi stepped down at the end of October.

In December, Lagarde said such a review was long overdue, after her first policy meeting as the ECB chief.