ECB: New President, New Policy?

Summary

After eight years in office at the European Central Bank (ECB), it is time for Mario Draghi to pass the baton in eurozone monetary policy. Christine Lagarde will become the first woman to head the ECB.

Key points

• Key points:
• This is a challenge in itself, even more so in a context in which the eurozone economy is weak, inflation rates are persistently below the ECB's target, and global uncertainty is far from vanishing.
• As a politician, Lagarde is considered capable of building consensus (key to her new position given the current divide in the Governing Council), and very good communicator.
• Despite having little experience in monetary policy, she has repeatedly expressed her support for non-conventional monetary policy through the IMF.

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