The European Central Bank has completed its 18-month strategy review and is set to announce the results today.
- The ECB announcement is scheduled for 1100 GMT
- European Central Bank President Lagarde will speak following at a 1230 GMT news conference
The main point is the change to the Bank’s inflation target.
- likely to set its inflation target at 2%
- ditching its current target that is “below but close to 2%”
- target is also likely to be declared symmetric (an optimistic declaration ongoing on to a decade missing to the downside) and the Bank will accept an overshoot
- the Bank may also follow the lead of the Fed in targeting average inflation over a period
I am really hoping Lagarde says the target is now a gooooooooooaaaaaaaaaaaaalllllllllllllll. Getting into the swing of the soccer tournament currently in progress in Europe.