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What to expect from ECB's new President Christine Lagarde?


By Giles Coghlan, Chief Currency Analyst at HYCM

Via Bloomberg

On November the first Christine Lagarde will take over the Presidency of the European Central Bank. She inherits an ECB in 2019 in a very similar position to Mario Draghi had in 2011 which is a climate of global uncertainty and political instability. Draghi started his time at the ECB vowing to do 'whatever it takes'. His last hurrah last month can be summarised as him being willing to stick the course for 'as long as it takes' in terms of using easier policy to support the economy. He also looked outside of the bank for Fiscal policy stimulus as a necessary future assistance.

So what will Lagarde do? Current expectations are that she will carry on where Draghi left off. Bloomberg reported that in terms of Governing Council politics she will have an ally with Germany's nomination of Isabel Schnable. Schnable is an academic economist with a track record of defending monetary stimulus against attacks from fellow Germans. With her on the council Lagarde will have an ally making her job much easier in leading the ECB.

So, in a nutshell, expectations are for more of the same from Lagarde as we had from Draghi.

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Source: https://www.forexlive.com/news/!/what-to-expect-from-ecbs-new-president-christina-lagarde-20191025
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