January 24, 2020 / 7:01 AM / a month ago

ECB policy is not on 'autopilot', Lagarde on Bloomberg TV

FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses a news conference on the outcome of the meeting of the Governing Council in Frankfurt, Germany, January 23, 2020. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) - It is ridiculous to believe the European Central Bank’s policy is on auto-pilot and that it won’t change until a year-long review of the ECB’s strategy is completed, ECB President Christine Lagarde said on Friday.

“To think it’s autopilot, that’s ridiculous,” Lagarde said on Bloomberg TV. “There’s a forward guidance which is strong, which is setting a very clear timetable but it’s fact dependent. Let’s look at the facts, let’s look at how the economy evolves.”

Reporting by Francesco Canepa; Editing by Sam Holmes

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