Lagarde Says ECB Strategic Review Will Start in January

(Bloomberg) --

European Central Bank President Christine Lagarde said the upcoming strategic review will start some time in January and will conclude by the end of next year.

The ECB’s objectives will be “core and center” to the review, but it will also “explore each and every corner we affect as a central bank,” she said at a press conference after her first interest-rate decision in Frankfurt.

The last strategic review was in 2003, and there have been “massive changes” since then, including rising concerns about climate.

The upcoming review could herald big changes. The central bank for 19 countries currently defines price stability as inflation below, but close to 2%. Forecasts unveiled Thursday show price gains failing to reach that pace for the next three years.

“The framework hasn’t been completely agreed,” Lagarde said. “I have made a point to include members of the Governing Council and seek their views before any decision is made.”

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