January 28, 2020 / 8:50 PM / 21 days ago

ECB's Lagarde extends mandate of top Draghi aide

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/File Photo

FRANKFURT (Reuters) - The European Central Bank has reappointed Roland Straub as Counsellor to ECB chief Christine Lagarde, extending the mandate of a key aide to former ECB President Mario Draghi.

Straub, who was appointed Draghi’s counselor in early 2017 and was seen as a key player in constructing many of the ECB’s policy moves, will serve another three years in the role.

Lagarde, who took over the ECB on Nov. 1 has not made a change in any of the key posts atop the bank, suggesting continuity with Draghi era policies.

In her first several meetings at the bank, Lagarde also reaffirmed Draghi’s controversial September policy package, heightening market expectations that policy will not change for most of this year.

Reporting by Balazs Koranyi; Editing by Sandra Maler

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