Analysis: “ECB reviewing its monetary policy strategy” by Marijn van der Sluis
Last week, the Governing Council of the ECB announced it would review its monetary policy strategy. The monetary policy strategy includes a definition of price stability and sets out the analytical pillars used to determine how to reach that goal. The decision to carry out the review is the first feat of the new President of the ECB, Christine Lagarde. The meeting of the Governing Council was the first one for two other members of the Executive Board, Isabel Schnabel and Fabio Panetta. The review is scheduled to be completed by the end of the year.
The review of the monetary policy strategy will include, among other things, the definition of price stability. Article 127 TFEU defines the primary objective of the European System of