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ECB Under Fire Over Aggressive Easing

ECB chief Christine Lagarde had to defend the central bank’s recent aggressive stimulus measures in front of the European parliament this week.

Lagarde was speaking on Monday at a hearing where she faced a grilling from Dutch and German policymakers.

The ECB governor took over from Mario Draghi in Q4 2019. She has already come under pressure from the German government over her aggressive easing policy.

In a court ruling earlier in the year, the ECB was told it has three months to justify its bond purchases or the Bundesbank will remove itself as the primary buyer in the ECB’s program.

ECB Chief Highlights Proportionality of Response

In this week’s hearing, Lagarde was keen to point out the “proportionality” of the measures taken following the undertaking of “cost-benefit analysis”.

Lagarde explained:

“Our crisis-related measures are temporary, targeted and proportionate … to the severe risks to our mandate that we are facing.”

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