ECB 2.0: One year to change everything?

Editorial Here we go ! The ECB’s strategic review has been launched and should be completed by the end of the year. Under the impetus of Christine Lagarde, all current aspects of the central bank’s monetary policy will be examined, from the inflation target to a review of the toolbox and the mode of communication. Other considerations will be analysed and most likely incorporated into the ECB's analytical framework, or even into the range of monetary policy instruments. This includes in particular the integration of a bias to support sustainable development. Should we expect a real big bang? Probably not, especially for the markets as the mandate is unlikely to change much. We will have the answer in one year.