level: But she said a wide-ranging review of the ECB's strategy the first since 2003 could allow policymakers to expand the number of tools used to stimulate growth and push inflation back towards the target level of 2%. The review is expected to begin in January and be completed by the end of 2020, according to The Guardian. In the meantime, the ECB's current stimulus programme is expected to remain in place. Speaking after her first policy meeting as ECB president, Lagarde said the central bank would keep interest rates at historic lows and maintain the plan hatched by her predecessor Mario Draghi to re-start quantitive easing to cut the cost of borrowing and boost growth. Lagarde said there was no need to panic even though the risks to the outlook for growth and inflation remained tilted to the downside because the risks were slightly lower following a more stable forecast for global trade and growth next year. Meanwhile, employment and wages continue to rise across the currency bloc, she said, and the services sector and construction industry were in rude health. The eurozone is expected to grow by 1.2% this year after the US/China trade war triggered a recession in the manufacturing sector that hit the currency bloc's largest economy, Germany, the hardest.
(news.financializer.com). As
reported in the news.
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