Draghi ties Lagarde’s hands with promise of indefinite stimulus

European Central Bank chief Mario Draghi pledged indefinite stimulus on Thursday to revive an ailing euro zone economy, tying the hands of his successor for years to come and sparking an immediate conflict with U.S. President Donald Trump. As Draghi’s eight-year mandate nears its close, the ECB cut rates deeper into negative territory and promised […]

Lagarde clears key hurdle in becoming next ECB chief

Christine Lagarde took a major step towards becoming the European Central Bank’s next president on Wednesday, securing the backing of a European Parliament committee after pledging to keep policy loose while undertaking a broader strategy review. Lagarde, who is due to take over from Mario Draghi on Nov. 1, argued that persistently low inflation requires […]