From one-man show to teamwork – the new style at the ECB?

Aegon Asset Management
By November 29, 2019 11:09

From one-man show to teamwork – the new style at the ECB?

No sooner had Mario Draghi finished his press conference in September that the deep divisions within the ECB governing council were laid bare. In an unprecedented action, the heads of the Austrian, German, French and Dutch central banks publicly criticized the policies their institution had just announced. Some members thought the new stimulus was sending the wrong signals to the market, while others thought quantitative easing (QE) should only be used during a financial crisis. A few days later, Sabine Lautenschläger, Germany’s representative on the ECB executive board, abruptly resigned. Adding insult to injury, a group of former central bankers later published a memo lashing out at the ECB’s loose monetary policy.

Aegon Asset Management
By November 29, 2019 11:09

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