Over the past eight years the European Central Bank has systematically failed to achieve its primary objective of price stability, defined as a rate of inflation “below but close to 2%”. This has raised several criticisms of the monetary policy implemented by the ECB. The new ECB President, Christine Lagarde, who took office on 1 November 2019, decided to launch a comprehensive review of the monetary strategy, to be conducted in the course of 2020.

Click here to continue reading the document