The ECB’s monetary policy: a big gun or a water pistol?
The ECB lowered its deposit rate and launched new asset purchases in September 2019, but the measures were more modest than expected and are not anticipated to have significant effects. Draghi’s successor Lagarde brings new emphases: a more symmetric inflation target, broader asset purchases, and in particular the ECB’s “greening” in the direction of climate objectives. (AI translation)
