ECB Picks Bank of France Director to Run Market Operations
The European Central Bank appointed Imene Rahmouni-Rousseau, a director at the Bank of France, as its next chief of market operations -- a key role in implementing monetary policy following the resumption of quantitative easing.
Rahmouni-Rousseau will take over as Director General Market Operations on Feb. 1, replacing long-time chief Ulrich Bindseil, who now heads market infrastructure and payments at the ECB. Rahmouni-Rousseaun, 43, has been Director of Markets at the Bank of France since 2014 after a stint at the Secretariat of the Financial Stability Board in Basel. She worked at the ECB from 2001-2004.
The Executive Board’s decision -- under new President Christine Lagarde -- puts the Frenchwoman at the center of day-to-day monetary policy implementation. The September decision to buy bonds until inflation firmly returns to its targets has sparked doubts whether the ECB has enough room to continue with purchases before hitting its self-imposed limits.
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