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Welcome address

· Christine Lagarde, President of the European Central Bank (Euro area (EU))

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· Christine Lagarde Wiki · European Central Bank WikiWelcome address

ContextWelcome address by Christine Lagarde at the ECB Conference on Monetary Policy: bridging science and practice.

Why it mattersLagarde explains the data-driven pace of tightening and the operational framework review.

Problems raised
  1. Central banks faced overlapping supply and demand shocks.
  2. The macroeconomic landscape is complex and fast-changing.
  3. Unwinding unconventional measures affects control of short-term rates.
Solutions proposed
  1. Use a framework that adjusts the pace of tightening to the data.
  2. Review the ECB's operational framework.
  3. Learn from research presented at the conference.
Read full speech on ecb.europa.eu ↗

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