What to expect from the ECB in 2021
The European Central Bank (ECB) started 2020 with a moderately expansionary monetary policy, relaxed by Mario Draghi as his farewell to the presidency of the ECB. The intention was perhaps to pave the way for Christine Lagarde, her successor, in anticipation of a looming recession. This gave the incoming president the reassurance of not expecting that monetary policy measures would be necessary in the short term. Lagarde asked the ECB to review its monetary policy framework, an exercise that was to last all this year.
