A BAPTISM OF FIRE FOR LAGARDE

摘要

For an institution that is no stranger to crisis, the European Central Bank (ECB) is enduring a particularly difficult year. Trade tensions between the US and China have hit the euro area economy hard, while the inflation rate is dropping to multi-year lows. The ECB's decision to launch a monetary stimulus package in September 2019, to counter these problems, is expected to offer modest support at best. But a return to unorthodox easing measures has also ignited ideological divisions along the euro area's monetary policy fault lines.