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Lagarde: Hearing at the Committee on Economic and Monetary Affairs of the European Parliament
I am very happy to appear before this Committee shortly after the first Governing Council meeting of 2020, during which the ECB decided to launch a review of its monetary policy strategy. More than 16 years have passed since the ECB last reviewed its strategy. And as we discussed in December, since 2003 the world economy has undergone profound structural changes that have transformed the environment in which monetary policy operates. More specifically, declining trend growth on the back of slowing productivity growth and an ageing population, and the legacy of the financial crisis have driven interest rates down. ... (full story)
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