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- ECB's president Lagarde: Too early to draw any firm conclusions on strategy review
ECB's president Lagarde: Too early to draw any firm conclusions on strategy review
- Strategy review has yet to be concluded
- Low inflation poses fundamental challenges
- Policy must remain expansionary for as long as necessary to achieve ECB goals
- To underpin inflation expectations, need to ensure our aim is symmetric
- A persistent failure to meet inflation target can feed into inflation expectations
- We need to have a clear consensus - agreed by the governing council - on what tools are available when inflation is too low
- Measures we have taken since march this year will increase inflation by around 0.8 percentage points cumulatively between 2020 and 2022, and GDP growth by around 1.3 percentage points
- Make-up strategies on inflation should be examined
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