The European Central Bank (ECB) policymakers meeting over the weekend has made good progress in reshaping the ECB’s strategy, including the role it plays in tackling climate change and a revised approach to inflation, President Christine Lagarde said on Sunday.
25 members of the ECB Governing Council met live over the weekend for the first time since the Covid-19 outbreak struck.
The meeting in Taunus, Germany aimed to restructure the ECB, with new inflation targets, better ways to measure the economy and agreement on how to address issues such as climate change and inequality.
However, Lagarde did not provide details on the outcome of the talks, only saying that it included inflation targets and the ECB’s timeline for achieving its goals.
Lagarde expressed his delight at the discussions and said they had made good progress in shaping concrete features in the ECB’s future monetary policy strategy.
The outcome of these discussions is expected to be made before the annual ECB Forum on 28-29 September.
