Last Monday, Christine Lagarde announced the conclusions of the ECB Governing Council’s review of its monetary policy strategy. The announcement – and updated Monetary Policy Strategy Statement – was the outcome of a period of reflection on the robustness of our framework since the last review and our assessment of its fitness to meet our mandate of price stability over the next five years. Like all households and businesses, policym akers find themselves in a time of considerable uncertainty. We are witnessing major structural shifts relating to the stalling, and partial reversal, of global economic integration. We ... (full story)